Weak global cues may weigh on markets at start

The Indian markets head towards a negative opening and likely to extend its losing momentum for the fifth straight session on account of weak global markets

Headlines for the day:

NTPC, RIL join hands to ease Andhra power woes

Parsvnath promoters revoke 5 crore shares

GMR to raise $150 million for its airports business



Events for the day:

Ex-date for stock split of Bafna Spinning Mills & Exports
Ex-date for interim dividend Kewal Kiran Clothing
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The sentiments across the globe look weak, which may lead the Indian markets to begin today's session on a negative note. The markets are likely to extend its losing momentum for the fifth straight session. Volatility maybe seen and the markets may undergo consolidation in the absence of positive factors. However, declining crude oil prices may give some respite.

The result season kicking off from April 15 with IT bellwether Infosys Technologies publishing its number on the same day; this may provide some direction to the markets.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs356.90 crore on April 11, 2011 as compared to the net buy of Rs383.30 crore on April 08, 2011. The domestic investors have sold Indian shares worth a net of Rs78.20 crore on April 08, 2011.

Global signals

The European markets suffered their biggest one-day fall in a month on Tuesday (April 12, 2011), with the main indices breaking below their 50-day moving averages, as Japan's worsening nuclear crisis sparked a bout of profit taking.

The US markets dropped on Tuesday on worries that falling oil prices could set off a reversal in the high-flying energy sector, while Alcoa's leaner-than-expected revenue disappointed.

All the Asian indices were trading on a negative note. SGX Nifty was trading 62 points down; indicating for a weak start on the Dalal Street.

Commodity cues

Crude oil prices fell more than $3 on Tuesday as Goldman Sachs warned again of a price reversal and key forecasters said expensive crude could erode demand.