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Pre Market Commentary : Weak global cues may weigh on markets at start


The Indian indices head towards a lower start tracking losses across the globe due to weak US manufacturing data.

Headlines for the day
•           JSW Steel faces brunt of mining ban
•           Two-wheelers' July sales rise 13%
•           Orchid Chem to make drugs in 3 new segments

Events for the day
•           Results: DLF, MMTC, Oracle Financial Services Software, Piramal Healthcare, Power Grid Corporation of India
•           Ex-date for bonus issue of Ashok Leyland


Indian Indices:

  First day of August brought some relief to investors on account of US debt deal. However in today’s trade, the Indian markets may come under pressure after a report showing the slowest growth in US manufacturing in two years.

Today's opening is likely to be on a weak note on account of negative global cues. Companies scheduled to report quarterly results today include DLF, MMTC, Oracle Financial Services Software, Piramal Healthcare, Power Grid Corporation of India; stocks will be eyed.

Daily trend of FII/MF investment in equities The FIIs The FIIs have sold Indian stocks worth a net of Rs619 crore on August 01, 2011 as compared to the net buy of Rs417.20 crore on July 29, 2011. The domestic investors have bought Indian shares worth a net of Rs108.30 crore on July 29, 2011. The data is as per the SEBI website.

Global Indices:

The European markets rallied on Monday (August 01, 2011) as investors applauded a debt deal to avoid a US default, but gains were capped as a number of market players doubted it would help the world's biggest economy avoid a credit downgrade.

The US markets fell sharply on Monday after a report on US manufacturing apparently disappointed investors.

The Asian markets were trading lower on Tuesday (August 02, 2011) following overnight Wall Street's losses. SGX Nifty was trading 46.5 points down, indicating for a negative start on the Indian bourses.