Greek concern may weigh on market at start

Tracking weak global cues, the Indian markets may fall at start and may lead to a cautious trade.

Headlines for the day
Ceat to invest Rs250 crore in Bangladesh tyre plant.
TCS eyes $500 mn sales in Japan.
EGoM on gas postponed.
GoM clears AI debt recast.
Airtel, Vodafone, Idea to be charged for extra spectrum.



Events for the day
Results: ACC, Adani Enterprises, Ambuja Cements, Apollo Tyres, Cummins India, Gujarat State Petronet, Hindalco Industries, HPCL, Tata Steel.
Indian indices
Uncertainty over the outcome of the Greek bailout talks has soured the sentiment. As per reports, ECB could still not agree what contribution to make to restructuring Greece's sovereign debt. Tracking weak global cues, the Indian markets may fall at start and may lead to a cautious trade. Failure to secure the 130 billion euro ($172 billion) rescue package could push Greece into a disorderly default and threaten the stability of the entire euro zone.
Earnings will continue to pour in. Other earnings in focus today — Adani Enterprises, Cummins India, Hindalco Industries, Jindal Saw, MRF, Page Industries and Fag Bearing.
Daily trend of FII/MF investment in equities
The FIIs have been net buyers of the Indian stocks to the tune of Rs692.30 crore on February 07, 2012. The domestic investors have sold Indian stocks worth a net of Rs281.00 crore on February 07, 2012. The data is as per SEBI website.
Global indices
The European shares fell from six-month highs on Wednesday (February 8, 2012) after sources said European Central Bank policymakers were still split on a Greek debt deal, souring optimism that talks were drawing to a conclusion.
The US stocks closed flat in another thinly traded session on Wednesday as Greece remained in a standstill over accepting tough reforms in exchange for a bailout critical to avoiding a chaotic default.
The Asian stock markets fell on Thursday (February 09, 2012), as market participants awaited closely watched Chinese inflation data for any signal of policy easing and weighed the possibility of a Greek bailout deal later in the day. SGX Nifty was trading 26 points lower, indicating a negative opening for the Indian markets.
Commodity cues
US Crude Oil prices rose to above $99 a barrel on Wednesday in Asia after an unexpected drop in US crude supplies suggested demand is improving.