Global crises may lead markets to start in red

The Indian markets are expected to open lower, triggered by worries that Europe's debt crisis could engulf French banks and spill onto the world financial sector.

Headlines for the day:

Piramal buys 5.5% in Vodafone Essar
Shriram City forays into home financing
Fortis buys hospital chain in Vietnam for Rs289 crore



Major corporate action

India’s weekly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
Nitin Fire Protection Industries board to consider bonus issue
Results: Apollo Tyres, Castrol India, Reliance Infra, Reliance Power, Tata Motors

Indian indices

After taking one-day breather, the Indian markets may fall again at the start as the US and European indices dropped on news about sluggish global economies. Concerns about weak US economic growth and worries about European debt have sent the world stocks lower.

Weekly inflation numbers will be declared today and may lead to a volatile trade. Crude has shown a drastic fall in the past few days, which may give support to the shaky market sentiment.

Companies scheduled to report quarterly results today include Apollo Tyres, Castrol India, Jaiprakash Power Ventures, Jubilant Foodworks, Reliance Infrastructure, Reliance Power, Shree Renuka Sugars, Tata Motors; stocks will be in focus.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs1960.10 crore on August 10, 2011 as compared to the net sell of Rs1109.70 crore on August 09, 2011. The domestic investors have bought Indian shares worth a net of Rs325.10 crore on August 08, 2011. The data is as per the SEBI website.

Global signals

The European markets ended sharply down on Wednesday (August 10, 2011), led by financials, with Societe Generale down more than 22% at one point on rumours about the French bank's financial solidity, all of which it denied.

The US markets slumped again, briefly erasing Tuesday's stock gains, as investors fretted over continued worries among European banks as well as the Federal Reserve's gloomy outlook and hints at further actions.

The Asian markets were trading in the red zone following heavy losses on the Wall Street. SGX Nifty was trading 13.5 lower, pointing for a negative start on the Dalal Street.

Commodity cues

Crude oil prices were back to positive territory on Wednesday, after a deep plunge below $80 the day before.