Markets may open in the red on the back of negative global cues. At 700 am Indian Standard Time, the SGX Nifty was trading at 5,736 – down 64 points.
In US, the Dow industrials lost more than 300 points in a sell-off on Wednesday that drove all major stock indexes down over 2 percent in the wake of the presidential election as investors' focus shifted to the looming "fiscal cliff" debate and Europe's economic troubles.
The Standard & Poor's 500 Index posted its biggest daily percentage drop since June, with all 10 S&P sectors solidly lower and about 80 percent of stocks on both the New York Stock Exchange and the Nasdaq ending in negative territory.
The Dow Jones industrial average slid 313 points, or 2.4 percent, to close at 12,933. The Standard & Poor's 500 Index fell 34 points, or 2.37 percent, to 1,394. The Nasdaq Composite Index lost 75 points, or 2.5 percent, to close at 2,937.
The Asian markets followed suite and tumbled as investors worried about the fiscal crisis in the United States and the European economy's further deterioration, underpinning safe-haven currencies such as the yen and dollar.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3 percent, retreating from a near eight-month high on Wednesday. Australian shares tumbled 1 percent after all major U.S. stock indexes slumped over 2 percent overnight. Japan's Nikkei average was down 1.2 percent.
STOCKS TO WATCH
Tata Motors may see some action as the company plan to roll out the CNG and diesel variants of Nano as the small car is gradually gaining popularity in new segments.
Telecomm stocks will be under pressure as the Cabinet is likely to consider levying one-time fee of around Rs 31,000 crore for the spectrum that incumbent telecom companies hold.
OnMobile, KRBL, Balrampur Chini Mills, Cadila Healthcare, NMDC, Emami, UCO Bank will be reacting to their respective quarterly numbers.
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