The Indian markets are likely to extend their losses in trade today tracking negative global cues. Global equity markets and the euro slid on Wednesday, with US stocks staging a late sell-off on a US bank warning, amid growing doubts governments in Europe can contain the euro zone debt crisis.
The Dow Jones industrial average closed down 190.57 points, or 1.58%, at 11,905.59. The Standard and Poor's 500 Index was down 20.90 points, or 1.66%, at 1,236.91.
In Asia, the Nikkei and the KOSPI were trading 0.2% and 0.1% lower, respectively. Back home, the Nifty is likely seek support around 5,000 – 4,980, while it will face resistance around 5,060 – 5,075, analysts say. At 715 a-m Indian Standard Time, the SGX Nifty was trading at 5005, down 74 points or 1.5%.
Among individual stocks, Patni Computer will be in focus today on reports that i-Gate plans to delist shares of Patni and will offer shareholders a minimum price of 356.74 a share.
Kohinoor Foods could also be in limelight on reporting sharp jump in its net profit at 212 crore for the quarter ended September 2011, on account of sale of part of its business.
Ashok Leyland could also see some investor interest on reports that the company is planning to consolidate its associate companies into one.
The government on Wednesday approved setting up an empowered committee to compensate NTPC for abandoning a hydropower project in Uttarakhand due to environmental concerns. The markets could react to this development.
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