Global weakness may drag markets at start

The markets head towards a negative opening and likely to extend its losing momentum on account of weak global markets. Headlines for the day: Tatas among 10 best cos for leadership in Asia. Govt to take up 49 FDI requests on Wednesday. Idea added maximum subscribers due to MNP till March. Godrej Prop keen on redevelopment projects in Mumbai. Indian Indices: The sentiments across the globe look weak, which may lead the Indian markets to begin today’s session on a negative note. SGX Nifty is trading 31.50 points lower. Risk assets slipped broadly after elections in Greece and France fueling questions about commitments from struggling euro zone economies to pursue austerity measures, widely seen by markets as crucial to resolving the bloc's debt crisis. Volatility may be seen and the markets may undergo consolidation in the absence of positive factors. The markets are going through a turbulent phase without a sign of direction. The companies scheduled to report quarterly results today include Andhra Bank, Bank of India, Bosch, Glaxosmithkline Consumer Healthcare, Glaxosmithkline Pharmaceuticals, HDFC; stocks will remain in focus. Global Indices: Asian stock markets slipped on Monday (May 07, 2012), after elections in France and Greece raised concerns over the euro zone's ability to carry out further austerity measures and US jobs data came in weaker than expected. European shares lost ground on Friday (May 04, 2012), ahead of a reading on the US jobs market that could heighten concerns about the health of the world's biggest economy. Euro declines to a 3-month low post French elections. US stocks ended its worst week this year with a sharp sell off on Friday after a slowdown in job creation in the world's top economy raised the biggest question mark yet about the prospects for US growth. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs91.20 crore on May 03, 2012.The domestic investors sold Indian shares worth a net of Rs233.60 crore on May 03, 2012. The data is as per the SEBI website.