Markets expect a weak start

The Indian markets head towards a negative opening tracking weak Asian indices. Bank of India, Cairn India, Coal India, Tata Steel will declare results today

Headlines for the day:

Infosys gets US court subpoena on visa issue

IOC to look for partner for LNG terminal

Banks eye HDFC Bank's loan to Aditya Birla Chem



Events for the day:

Major corporate action

Results: Bank of India, Cairn India, Coal India, Tata Steel
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The Indian markets are seen consolidating sideways as cautious investors appeared to be reluctant to pile up positions in largecap stocks and instead, chose to square off positions at every rise.

The markets are likely to open on a negative note and may witness further downside ahead of May F&O expiry. The trading may continue to remain cautious owing to worries over global economy, uncertainty for foreign fund flows amid fresh concerns of euro zone debt.

The companies scheduled to report quarterly results today include Bank of India, Cairn India, Coal India, Tata Steel; stocks will remain in focus.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs138.20 crore on May 24, 2011 as compared to the net sell of Rs75.10 crore on May 23, 2011. The domestic investors have sold Indian shares worth a net of Rs89.40 crore on May 23, 2011.

Global signals

The European markets edged up on Tuesday, with miners among those recovering some ground lost in a sharp sell-off in the previous session, though analysts said markets might struggle to make much progress in the short term.

The US markets dipped in light volume on Tuesday as lingering concerns about a slowdown in growth more than offset gains in energy shares.

The Asian markets were trading lower following the Wall Street's losses. SGX Nifty was trading 43 points lower, indicating towards a negative start on the Dalal Street.

Commodity cues

Crude oil prices rose 2% on Tuesday after Goldman Sachs raised its price forecasts for Brent crude, saying demand from economic growth will eat into stockpiles and OPEC spare capacity.