The start looks weak as worries over the euro zone debt crisis heightened after Fitch Ratings warned of possible downgrades for seven European nations
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Events for the day
Results: Warren Tea
Fitch Ratings on Friday placed Belgium, Cyprus, France, Ireland, Italy, Slovenia and Spain on watch for possible downgrade and warned that a comprehensive solution to this festering problem is 'technically and politically beyond reach'.
The news has weakened hopes that policy makers will solve the regions debt crisis. Today’s opening is expected to be on a weak note tracking heavy losses in the Asian region as worries about downgrades of weaker euro zone countries curbed risk appetite.
Daily trend of FII/MF investment in equities
The FIIs have sold Indian stocks worth a net of Rs226.6 crore on December 16, 2011. The domestic investors have sold Indian stocks worth a net of Rs111 crore on December 15, 2011. The data is as per SEBI website.
The European shares ended lower on Friday (December 16, 2011) after a choppy session, as multiple equity derivative contract expiries and fears of fresh corporate or sovereign credit rating downgrades over the weekend weighed on sentiment.
The US stocks finished mixed to lower on Friday after Fitch Ratings said it was sticking with its AAA rating for France but revising its outlook down while warning that downgrades were possible for six other Eurozone countries.
The Asian indices were trading lower on Monday (December 19, 2011) on anxiety over potential ratings downgrades in European sovereign debt. SGX Nifty was trading 95 points lower, indicating a weak start for the Indian markets.
US Crude Oil edged lower in volatile trading on Friday, posting a second consecutive weekly loss as caution about Europe's debt crisis and year-end positioning continued to spark selling into rallies.
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