Markets expect a negative start on weak Asian cues

Worries over Greece have disrupted the sentiments and may lead the Indian markets lower at start. Investors will continue to book profit on Greece jitters.

Headlines for the day:

Diesel, LPG prices set to rise again
Jet Airways looks to expand in Europe
NCC arm plans 2.5-million sft projects in South
Home loan growth to moderate to 15%: Icra study



Events for the day

Release of weekly inflation data
Results: Ashok Leyland, Gujarat Gas Co, SAIL, TVS Motor Company

Indian indices

Jitters over a Greek referendum and the increasing possibility of a Greek exit from the eurozone weighed on market sentiment. The Europe woes overshadowed Wall Street's rise on Wednesday, which were driven by hints from US Federal Reserve Chairman Ben Bernanke of another round of stimulus measures to revive the US economy. The Asian cues look weak and may weigh on the Indian markets today at start.

The weekly inflation numbers will be out today and may lead to a volatile trade.

Other companies scheduled to report quarterly results today include Manappuram Finance, Sun TV Network and Jubilant Foodworks.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs33.50 crore on November 02, 2011. The domestic investors have sold Indian shares worth a net of Rs393.20 crore on November 01, 2011. The data is as per the SEBI website.

Global signals

The European shares rose on Wednesday (November 02, 2011), recouping some of the sharp losses in the previous sessions, as investors picked up battered bank stocks, while strong earnings news lifted Randgold Resources and Next.

The US Stocks rebounded from two days of sharp losses on Wednesday after the Federal Reserve said it is prepared to do more for the economy if conditions warrant, helping to stanch the panicky reaction to Europe's debt crisis.

The Asian shares fell on Thursday (November 03, 2011) as fears that Europe's debt crisis could unleash financial chaos prompted investors to continue shedding riskier assets in favour of the relative safety of the dollar. SGX Nifty was trading 46 points lower. Nikkei is shut today.

Commodity cues

Crude oil fell on Wednesday as uncertainties about Greece's bailout loan emerged, deepening the euro zone debt crisis and outweighing a US Federal Reserve view of a somewhat brighter economic outlook.