Gap-down opening likely on weak global cues

The markets head towards a negative opening on account of weak global markets. SGX Nifty is also trading 59 points lower. Events for the day: Ex-date for bonus issue of 8K Miles Software Services, Info Edge (India). Ex-date for final dividend of Granules India. Headlines for the day: Oil Ministry proposes former CJI Khare as its arbitrator in RIL row. Reliance Broadcast launches TV channel in Canada. Moody's puts Tata Power under review for downgrade. SEBI seeks nod to use call records in insider trading cases. Indian Indices: The Asian cues look weak today and may drag the Indian markets in the opening trade. SGX Nifty is trading 59 points lower which may also weigh on the sentiments. On Thursday (June 21, 2012), the Sensex closed at 17032, up by 135 points while Nifty settled at 5165, rising by 44 points. Global Indices: Asian shares slipped on Friday (June 22, 2012) after weak manufacturing data from the United States, Europe and China heightened fears over the outlook for global growth. European shares ended lower with choppy trade on Thursday (June 21, 2012) due to global growth fears but the expectations of more central bank action to stimulate growth helped to limit the losses. US Stocks slipped on Thursday after a raft of data showed an overseas economic slowdown was adding to US weakness. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs252.40 crore on June 20, 2012. The domestic investors bought Indian shares worth a net of Rs188.00 crore on June 20, 2012. The data is as per the SEBI website. Commodity Cues: Oil markets slipped on Thursday on a host of factors, including the absence of a more-robust stimulus from US Federal Reserve after its monetary-policy meeting.