Markets expect a negative start; F&O expiry eyed

Indian markets may open on a negative note led by negative Asian cues. SGX Nifty is trading 11 points lower. Events for the day: F&O Expiry for the month of August. Headlines for the day: Hospira to buy manufacturing facility from Orchid Chemicals. Thejo Engineering to launch Rs21 cr IPO on Sept 4. SKS Microfinance allots 44.5 lakh shares to Kumaon investment. Indian Indices: Today, the opening on the Dalal Street is going to be on a negative note tracking negative Asian cues. SGX Nifty is trading 11 points lower. Trading volume is likely to remain thin. Volatility may remain high due to F&O expiry for August. On Wednesday (August 29, 2012), the Sensex closed at 17490, down by 140 points while the Nifty settled at 5287, slipping by 46 points. Global Indices: Asian shares eased and major currencies stayed range-bound on Thursday (August 30, 2012) as the investors avoided betting on direction before a speech by the US Federal Reserve Chairman Ben Bernanke, with focus on whether there will be any hint about further US stimulus. European shares ended slightly lower on Wednesday (August 29, 2012) in extremely low volumes with investors reluctant to boost their exposure to risk pending messages from central banks about any further stimulus measures. US stocks edged higher on Wednesday in the lightest trading of the year as investors waited for a key speech by the Federal Reserve Chairman Ben Bernanke on Friday. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs168.50 crore on August 28, 2012. The domestic investors sold Indian shares worth a net of Rs223.80 crore on August 28, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil prices slipped on Wednesday as Gulf Coast refineries and platforms seemed to have escaped damage from Hurricane Isaac, while global stocks were little changed as traders looked ahead to a speech by Federal Reserve Chairman Ben Bernanke on Friday.