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F&O cues: Total Nifty Futures was up Rs 1,838 crore and Options was up Rs 7,789 crore.
In the US markets, stocks notched double digit gains for the year, just a shade below the record two-year highs. However, on Friday, it was a quiet session with a flurry of selling in the final minutes.
The rupee is likely to be rangebound this week. Domestic equity market cues and import demand is likely to impact the currency. The range for the day is seen between 44.70-45/$, says Subramaniam Sharma, Greenback Forex.
FIIs were net sellers of Rs 74 crore in Index Futures and net sellers of Rs 27 crore in Stock Futures while FIIs were net buyers of Rs 2498 crore in Index Options on December 31, as per data available on NSE.
Equity diversified NAVs ended strong with advance:decline ratio of 252:4 as markets closed the last session of the year 2010 on a positive note, led by support from financial, Anil Dhirubhai Ambani Group, realty, telecom, auto, select metal and power companies' shares.
Market cues: FIIs net buy USD 524 million in cash markets.
At 7: 49 am (IST), Asian markets were trading firm. Hong Kong's Hang Seng was up 0.14% or 33.31 points at 23,068.76. Singapore's Straits Times added 0.96% or 30.75 points at 3,220.79. South Korea's Seoul Composite rose 0.70% or 14.44 points at 2,065.41. Taiwan's Taiwan Weighted gained 0.44% or 39.70 points at 9,012.20.
U.S. software firm iGate said it cancelled a press conference it had scheduled for Monday, at which it was expected to announce a deal with Apax Partners for a majority stake in India's Patni Computer Services for more than $900 million.
December was the best month for the Dow Jones since December 2003, the best for the S&P 500 since December 1991, and the best for the Nasdaq since December 1999.
Watches and paints sectors will be getting astrological support, says Satish Gupta of astrostocktips.
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Gold rose on Friday, notching up its strongest annual performance since 2007 and marking a fifth straight month of gains in December, driven by a weaker dollar and global economic uncertainty.
The European Central Bank faces another crucial year in 2011. Below are the five key issues facing the bank as it tries to steer the euro zone out of the ongoing debt crisis.
A bomb killed at least 21 people outside a church in the Egyptian city of Alexandria early on New Year's Day and the Interior Ministry said a foreign-backed suicide bomber may have been responsible.
India plans to overhaul its decade-old telecoms policy, framing new rules on mergers and on radiowaves, Telecoms Minister Kapil Sibal said on Saturday, seeking to revamp a high-growth sector hit by several scandals.
The German economy likely had post-unification record growth in 2010 despite severe winter weather that curtailed activity in December, Economy Minister Rainer Bruederle said on Saturday.
National Textile Corporation (NTC) has raised 1.46 billion rupees ($32.46 million) by selling two of its surplus mill lands in the western Indian city of Gujarat via e-auctions.
India's third largest steelmaker, JSW Steel Ltd, has emerged as the highest bidder for debt-laden steel producer Bellary Steel & Alloys Ltd, a report in the Business Standard newspaper said on Saturday.
President Barack Obama has set his New Year's resolution high for 2011: repair the struggling U.S. economy.
Oil prices hit a 26-month high over USD 92 a barrel on Friday, closing the year up 15% on expectations that the economic recovery will drive demand growth next year and send prices into triple digits.
With all of the stimulus coming from the Federal Reserve and the tax-cutting Congress, 2011 should be a banner year for the U.S. economy and your money, right? Unless, of course, a double dip in housing, weak state budgets and persistent lack of hiring dooms everything.
French President Nicolas Sarkozy said on Friday he would fight to shield the euro as the currency's members struggle with a debt crisis and vowed to fufil France's commitments to improve its own finances.
