Markets may fall at start on global growth fears

Economy fears have rattled markets across the globe, which may drag the Indian indices in the opening trade.

Headlines for the day:

HDFC raises home loan rates by 50 bps

Bank staff to go on strike on August 5

Maharashtra govt rules out CBI probe into Ambani home land dispute



Major corporate action

Results: Bharti Airtel, Hindustan Copper, United Spirits

Ex-date for dividend of Punj Lloyd, Nesco

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Indian indices

The opening is likely to be on a weak note, extending previous session's losses, owing to the negative global indices as renewed fears about the health of the global economy rattled financial markets.

The trading may remain sluggish as the trend for the Indian markets still remains downward, Recession risks are rising in the United States, the European economy remains entwined in its own debt crisis, and China's supercharged economy could slow; this has impacted the overall market sentiment.

Companies scheduled to report quarterly results today include Bharti Airtel, Hindustan Copper, United Spirits; stocks will be in focus.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs157.20 crore on August 02, 2011 as compared to the net sell of Rs619 crore on August 01, 2011. The domestic investors have sold Indian shares worth a net of Rs160.30 crore on August 01, 2011. The data is as per the SEBI website.

Global signals

The European markets tumbled to a 10-month low on Tuesday (August 02, 2011) as gloomy US economic data added to global growth concerns and as the sovereign-debt crisis returned to haunt Italy.

The S&P 500 turned negative for the year on Tuesday as the wrangling over the US debt ceiling faded and investors turned their attention to the stalling economy.

The Asian markets fell on Wednesday (August 03, 2011) tracking losses on the Wall Street. SGX Nifty was trading 80.5 points lower, pointing for a weak start on the Dalal Street.

Commodity cues

Crude oil prices declined on Tuesday as more weak US economic data fueled concern about the economy even as Congress passed a US debt-cutting measure in time to avoid a default for the world's top oil consumer.