Markets may open lower on weak Asian cues

The weak Asian cues may drag the Indian markets in the opening trade owing to worries over European debt crisis.

Headlines for the day:

After Ulips, traditional plans come under IRDA scanner

Govt prepares to puncture ballooning oil subsidy bill

Emami to invest Rs2,000 crore in healthcare

NTPC to invest Rs41,000-crore in MP and Chhattisgarh




Events for the day

Ex-date for final dividend of Jaiprakash Associates, Jaypee Infratech

Ex-date for dividend of Aban Offshore, Delta Corp

Indian indices

The European policy makers failed to introduce a plan to stem the region’s debt crisis, dimming the earnings outlook for banks, exporters and raw-material producers. The Indian markets are expected to open the new week on a lower note tracking weak Asian cues.

The market will be more influenced by global developments, which either favourable or negative will directly influence the short term market trend. Volatility is likely to remain high in the coming days.

Daily trend of FII/MF investment in equities

The FIIs have purchased Indian stocks to the tune of Rs166.80 crore on September 16, 2011. The domestic investors bought sold Indian shares worth a net of Rs107 crore on September 15, 2011. The data is as per the SEBI website.

Global signals

The European stock markets rose on Friday (September 16, 2011), with financial stocks driving the gains as investor confidence gets a boost from this week's decisive action taken by policy makers in tackling the European debt crisis.

The US stocks rose for a fifth day in a row on Friday and the S&P 500 scored its best week since early July on signs euro zone leaders were acting together to limit any damage from its sovereign debt crisis.

The Asian markets fell on Monday (September 19, 2011) on concern that the European debt crisis will slow economic growth. Nikkei was closed for public holiday. SGX Nifty was trading 62 points lower.

Commodity cues

Crude oil settled higher on Thursday after the European Central Bank said it would lend more US dollars to European banks, stoking hopes that the region can avoid a damaging credit crunch.