A fall is given at start due to depressed global cues....

[RaahiShah]

A fall is given at start due to depressed global cues. US stocks tumbled on Friday following a disappointing monthly jobs report. High unemployment is one of the major headwinds confronting the developed world. It is likely to stay elevated as growth continues to be anemic. European markets too slumped on Friday with Spanish bond yields back near 7%. Asian markets are mostly in the red this morning.

Markets around the world are unlikely to find any respite from selling pressure in the near term amid mounting worries over slowing growth. While the Indian market has held up quite well lately, the resilience will be tested in the coming days as companies start reporting Q1 FY13 results.

Investors will keenly track data on industrial production and inflation in the run up to the month-end RBI policy review. Thursday will be a big day for the Indian markets, as apart from the latest IIP data, investors will react to earnings from IT titans Infosys and TCS.

HDFC siblings are also due to announce their results this week along with few other companies. The results season will see a pick up from next week.

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