Markets may open lower on weak Asian cues

Tracking losses in the Asian stocks, the Indian markets may begin the trade on a lower note. SGX Nifty is also trading 26.50 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: SBI Mutual Fund gets SEBI approval to merge two schemes. Coal India hikes prices in select Western blocks by 10-15%. Jet Airways seeks govt nod to cut down flights to North East. RINL approaches Steel Ministry to defer Rs2,500 cr- IPO. FIPB to take up 42 FDI requests on Friday. Indian Indices: Today, on the first day of the week the Indian markets may open on a negative note led by negative Asian peers. SGX Nifty is trading 26.50 points lower. Investors are worried that Europe's debt crisis is adding to the slowdown of global economic growth, especially after a flurry of data last Thursday, which showed weakness in global manufacturing. On Friday (June 22, 2012), the Sensex closed at 16972, down by 60 points while Nifty settled at 5146, slipping by 18 points. Global Indices: Asian stock markets mostly fell on Monday (June 25, 2012) as concerns about faltering global growth and Europe's intractable debt crisis continued to sap investor's confidence, but Japanese stocks were supported by a weaker yen. European shares extended the previous session's losses on Friday (June 22, 2012) as recent poor macroeconomic data and Moody's downgrade of 15 of the world's biggest banks lowered the investor's appetite for riskier assets. US stocks ended higher on Friday, led by gains in bank shares, as the S&P 500 index bounced back from its second-worst decline of the year. Daily trend of FII/MF investment in equities: The FIIs have been the net sellers Indian stocks to the tune of Rs238.70 crore on June 21, 2012. The domestic investors sold Indian shares worth a net of Rs20.80 crore on June 21, 2012. The data is as per the SEBI website. Commodity Cues: Crude Oil fell on Friday.