Markets are expected to post losses in opening trading following sell-off across global markets on reports that the sovereign-debt crisis may spread to Italy and Spain. The Nifty futures on the Singapore Exchange declined 74 points, at 5,545.
Back in India Investors turned cautious ahead of the Infosys results and the cabinets rejig which is expected later today. Infosys posted consolidated net profit of Rs 1,720 crore on revenue of Rs 7,485 crore and FY12 EPS seen at Rs 128-130.
Also May Industrial Output data is expected at noon today, poll conducted by Reuters expects the IIP at 8.2%.
Concerns that next wave of European Sovereign debt contagion may hit Italy and Spain caused risk aversion, for equities. Markets across the world made over a 1% cut in the indices.
The Nasdaq and S&P 500 declined almost 2% ech and the Down Jones Industrial Average slipped 1.2%. In Asia Japan's Nikkei Stock Average dipped 1.5%, Hong Kong's Hang Seng was off 2.2% and the Shanghai Composite index slipped 1.2% due losses in resource and exporter shares.