Mkts to open trade in red continuing yesterdays negative trend

The Indian markets may begin the trade on a lower note led by negative global peers. SGX Nifty is trading 12 points higher. Events for the day: Results: Ashok Leyland, Canara Bank, Container Corporation Of India, Ing Vysya Bank, Jindal Steel & Power, LIC Housing Finance, Lupin, Pidilite Industries, Sesa Goa, Torrent Power, Wipro, Shriram Transport Finance Co. Headlines for the day: Real estate prices in Mumbai unlikely to fall: Oberoi. Jhunjhunwala converts warrants into equity in Sterling Holidays. Indian Bank restructures Rs35 cr for Air India. RBI to hold monetary policy strategy meeting today. Pranab to be sworn in as 13th President on Wednesday. Indian Indices: Indian markets may extend yesterday’s losses and may open in the red zone tracking negative global cues. SGX Nifty is also trading 12 point higher. Major companies reporting results today — Ashok Leyland, Canara Bank, Container Corporation Of India, Ing Vysya Bank, Jindal Steel & Power, LIC Housing Finance, Lupin, Pidilite Industries, Sesa Goa, Torrent Power, Wipro, Shriram Transport Finance Co. On Monday (July 23, 2012), the Sensex closed at 16877, down by 281 points while the Nifty settled at 5117, slipping by 87 points. Global Indices: Asian stock markets were capped on Tuesday (July 24, 2012) after the previous day's deep losses as a surge in Spain's borrowing costs to levels seen as unsustainable. Triggered alarms in the indebted regions could push the euro zone's fourth-largest economy to seek a bailout. The euro was not far from a two-year low against the dollar and a near 12-year low against the yen, as the single currency was undermined by Moody's Investors Service changing its ratings outlook to negative for Aaa-rated Germany, the Netherlands and Luxembourg amid Europe's ongoing debt crisis. European shares extended their losses on Monday (July 23, 2012) as a move by Spain to ban short-selling on all Spanish securities raised fears that the region's sovereign debt and banking crisis may be worse than expected. US shares tracked a sharp sell off in global equity markets on Monday as Spain appeared closer to needing a bailout and fears grew that Greece may be approaching an exit from the euro zone. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs239.20 crore on July 20, 2012. The domestic investors sold Indian shares worth a net of Rs41.90 crore on July 19, 2012. The data is as per the SEBI website. Commodity Cues: Oil prices fell on Monday as investors sold off riskier assets and fled for the perceived safety of the dollar on fears that Spain will not be able to avoid a costly sovereign bailout.