Markets may open lower

Euro zone debt worries and US recession woes may again drag the Indian markets in the opening trade. The markets will follow global cues for direction

Headlines for the day:

Cabinet clears land acquisition Bill

Maruti's 3rd plant at Manesar to be delayed due to labour & sales woes

Hero Group enters hospitality business



Major corporate action

Ex-date for final dividend of Power Grid Corporation of India, Container Corporation of India

Ex-date for stock split of Nelcast

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Indian indices

It is the European disease that is infecting markets all around the world at the moment. Adding to the gloom are worries that the United States may be sliding back into recession, a concern heightened by a slew of downbeat data, most recently employment figures that showed the world's top economy failed to create any jobs last month. Today, the Indian markets will have to depend on the Asian indices for direction as US markets were closed on Monday. The opening is expected to be in the red zone mirroring weakness in the Asian region.

There are no major triggers back home so the Indian markets will be more dependent on global indicators for cues.

Daily trend of FII/MF investment in equities

The FIIs have purchased Indian stocks worth a net of Rs1,178.10 crore on September 05, 2011. The domestic investors have sold Indian shares worth a net of Rs268.80 crore on September 02, 2011. The data is as per the SEBI website.

Global signals

The European shares fell on Monday (September 05, 2011) to their lowest close in more than two weeks on renewed worries about recession and euro zone debt, and with banks hit by a US lawsuit connected to the packaging of toxic mortgage debt.

The US markets were closed on Monday due to Labor Holiday.

The Asian shares fell on Tuesday (September 06, 2011) amid fears that Europe's sovereign debt troubles are worsening and could trigger a second full-blown banking crisis.

Commodity cues

Crude oil fell more than 2% for a third successive day of losses on Monday, tumbling in tandem with other risk assets as European bank and debt jitters and doubts over global growth haunted traders.