Markets expect a cautious start on EU debt summit doubts

It is expected to be a cautious opening led by losses across the globe. All eyes will be on the EU summit.

Headlines for the day:

Balrampur Chini GDRs delisted from Luxembourg bourse

Sesa Goa buys 1.5% more in Cairn India

Suzlon to supply wind turbines for South Africa project

Wipro to invest Rs800 crore for expansion in Bengal

Retailers call for opening of FDI in non-food segment

First CDS trades made between ICICI, IDBI Bank



Events for the day:

Release of weekly inflation data
Ex-date for final dividend of C & C Constructions
Ex-date for dividend of Sharon Bio-Medicine

Indian indices

It is expected to be a cautious opening led by losses across the globe. All eyes will be on the EU summit. The investors may remain edgy ahead of key events in Europe and the markets may not witness any major movements on the either side. Doubts have emerged about whether an EU summit this week would result in a comprehensive deal to help resolve the region's debt crisis.

Volatility is expected today as weekly inflation numbers will be released.

Daily trend of FII/MF investment in equities

The FIIs have purchased Indian stocks to the tune of Rs211.90 crore on December 07, 2011. The domestic investors purchased Indian shares worth a net of Rs84.80 crore on December 05, 2011. The data is as per the SEBI website.

Global signals

The European shares fell slightly on Wednesday (December 07, 2011), as doubts emerged about whether an EU summit this week would result in a comprehensive deal to help resolve the region's debt crisis.

The US stocks were little changed in choppy, light trading on Wednesday as investors weighed high expectations about an upcoming euro zone summit against headline-driven selling.

The Asian stock markets fell on Thursday (December 08, 2011), as it ran into technical resistance levels and market players turned cautious ahead of key events in Europe, including a European Central Bank meeting later in the day. SGX Nifty was 16 points down.

Commodity cues

US crude oil prices fell back on Wednesday, weighed down by an unexpected increase in US stockpiles and doubts that a credible deal to resolve Europe's debt crisis will be reached at a summit on Friday