Positive Asian cues may lift markets at start

Today the Asian indices look positive and may lift the Indian markets in the opening trade.

Headlines for the day:

Cairn to seek ONGC nod on Vedanta deal

DLF to challenge CCI order in Competition Appellate Tribunal

Slowdown blues upset FMCG companies' plans

DGH reopens issue of sharing RIL's earnings on D6 gas

Major corporate action

Ex-date for 1st interim dividend of Greaves Cotton

Ex-date for dividend of Simplex Infrastructures, Tantia Constructions



Indian indices

The Indian markets have been showing some resilience than other global equities. However, Europe is where you have to be focused right now and it doesn't look good. Caution persists over sovereign debt fears in Europe and a US slowdown despite better-than-expected US economic data.

But today’s opening is likely to be in the green zone following positive Asian cues. Investors may go for bargain hunting today.

Daily trend of FII/MF investment in equities

The FIIs have purchased Indian stocks worth a net of Rs212 crore on September 06, 2011. The domestic investors have sold Indian shares worth a net of Rs205.80 crore on September 05, 2011. The data is as per the SEBI website.

Global signals

The European shares hit their lowest close in more than two years on Tuesday (September 06, 2011), on worries that political discord was exacerbating the euro zone debt crisis and that major economies were headed for recession.

The Wall Street fell for a third day on Tuesday on fears that Europe still has failed to tackle its debt crisis, prompting worries that the market is headed to new lows for the year.

The Asian stocks snapped a three-day streak of losses on Wednesday (September 07, 2011) as short-covering helped prop up benchmarks. SGX Nifty was trading at 28 points higher.

Commodity cues

Crude oil dipped for a second session on Tuesday on worries that the euro zone debt crisis could stifle world economic growth, but a new weather disturbance in the Gulf of Mexico pared losses sharply.