Markets may see a lower start

The key benchmark indices head towards a negative opening on account of weak global markets.

Headlines for the day:

Mundra Port to develop coal import terminal at Vizag

Tata Steel in talks to buy coal mines in western Canada

Aditya Birla, China's Yanzhou eye Australian coal miner



Events for the day:

Major corporate action

Ex-date for final dividend of Arihant Foundations & Housing, Foseco India
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Pre-market report

Indian indices

The Sensex and the Nifty are seen trading around their crucial support levels of 18000 and 5400 respectively. Yesterday, the markets were in a good mood, but today the negativity across the globe may set the stage for a lower start on the Dalal Street. No major cues back home may lead Indian indices to follow global markets.

The markets may trade in red as high crude oil prices and developments across the globe may force investors to trade on a cautious note.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs454.80 crore on March 21, 2011 as compared to the net sell of Rs404.80 crore on March 18, 2011. The domestic investors have sold Indian shares worth a net of Rs19.80 crore on March 18, 2011.

Global signals

The European markets slipped on Tuesday (March 22, 2011), as investors worried about the outlook for higher interest rates in the euro zone and as tensions in the Middle East intensified.

The Wall Street snapped a three-day winning streak on Tuesday, even as investors adjusted to the insecurity created by events in Japan, the Middle East and North Africa.

The Asian markets were trading mixed, with Japanese shares tumbling owing to profit-taking after their post-earthquake bounce. SGX Nifty was trading 19 points higher.

Commodity cues

Crude oil prices rose as unrest in Yemen threatened to crimp energy exports from the Gulf region and potentially spill over into neighbouring Saudi Arabia.