Markets may start lower on negative Asian cues

Indian markets may open in a red zone led by negative Asian cues and also SGX Nifty is trading 26 points lower Events for the day: Results: Housing Finance Development Corp. Headlines for the day: TDSAT sends notice to DoT over hike in Internet licence fee. Ranbaxy planning expansion in US. BofA-ML reiterates 'buy' rating on ICICI Bank. Indian Indices: The Indian markets expect to open in a red zone led by negative Asian cues and also SGX Nifty is trading 26 points lower. On Tuesday (July 10, 2012), the Sensex closed at 17618, up by 226 points while the Nifty settled at 5345, rising by 70 points. Global Indices: Asian shares inched lower on Wednesday (July 11, 2012) on worries that the global economic slowdown will hurt corporate earnings, with the market still unconvinced the euro zone can decisively bring down struggling member states' borrowing costs even after yields pulled back. European shares inched up on Tuesday (July 10, 2012) after the region's finance ministers made limited progress on measures to help embattled Spain, but the euro and commodities fell as signs of a sharp slowdown in China fuelled anxiety about the global economy. US stocks were poised to follow Europe's lead on Tuesday and make modest gains on guarded optimism that region's finance ministers were working to ease Spain's banking crisis. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs335.50 crore on July 09, 2012. The domestic investors sold Indian shares worth a net of Rs371.00 crore on July 09, 2012. The data is as per the SEBI website. Commodity Cues: Oil slipped on Tuesday after Norway ended a strike that threatened to halt oil output and prospects for demand growth dimmed after China bought less oil.