Markets may open lower on weak Asia

Tracking losses in the Asian stocks, the Indian markets may begin the trade on a lower note. However, stronger-than-expected reports on the US economy may bring some relief

Headlines for the day

Petrol cheaper by Rs 2-plus
Kingfisher promoters open to reducing stake to 26%
ICICI Bank to repatriate capital from Canada arm
Neyveli opposes further public float
Sugar industry in UP petitions court over cane price



Events for the day

Ex-date for interim dividend of Thinksoft Global Services, Asahi Songwon Colors

Indian indices

Caution may prevail as Italian bond yields climbed back to unsustainable levels, triggering investors' fears that euro-zone debt contagion could spread to top-rated nations such as France. Markets may remain rangebound until investors have reason to be confident that the euro zone crisis is contained.

It is expected to be a negative opening tracking lower Asian indices. However, stronger-than-expected reports on the US economy may bring some relief. Investors will continue to focus on global cues as earnings season is almost over.

Petrol prices have been slashed by Rs 1.85 per litre. Oil marketing companies will hog the limelight in today’s trade.

Daily trend of FII/MF investment in equities

The FIIs have purchased Indian stocks worth a net of Rs215.90 crore on November 15, 2011. The domestic investors have sold Indian shares worth a net of Rs40.20 crore on November 14, 2011. The data is as per the SEBI website.

Global indices

The European markets closed lower on Tuesday (November 15, 2011), with French banks weighing amid growing fears that the euro zone's second-largest economy will be sucked into a sovereign debt crisis.

The US stocks rose on Tuesday, boosted by swift steps toward formation of a new Italian government and stronger-than-expected reports on the US economy.

The Asian shares struggled on Wednesday (November 16, 2011) as signs that rising borrowing costs were affecting AAA-rated France stirred fears that even core euro zone members may not escape contagion from the region's debt crisis. SGX Nifty was trading 17.5 points lower.

Commodity cues

Oil prices rose on Tuesday on supportive data that pointed to continued economic growth in the fourth quarter, sending US crude to a 16-week peak and offsetting concerns that the euro zone debt crisis will keep spreading.