The market may edge lower in early trade on weak Asian stocks.

Key benchmark indices after managing to hover in positive territory till afternoon trade, slipped into the red later on Wednesday, 2 May 2012. The BSE Sensex fell 16.90 points or 0.1% to settle at 17,301.91, its lowest level since 28 April 2012.

Foreign institutional investors (FIIs) bought shares worth Rs 237.47 crore on Wednesday, 2 May 2012 as per provisional data from the stock exchanges. FIIs have bought shares worth Rs 723.17 crore in three trading sessions from 28 April 2012 to 2 May 2012.

Asian shares slipped on Thursday, 3 May 2012 after disappointing data from both sides of the Atlantic rekindled concerns about the strength of the global economic recovery. Key benchmark indices in China, Hong Kong, Indonesia, Singapore, Taiwan and South Korea fell by between 0.04% to 0.49%. Japanese financial markets remain closed for public holidays today and tomorrow.

US stocks fell on Wednesday, 2 May 2012 a day after the Dow Jones Industrial Average closed at its highest level in more than four years, as data showed private sector hiring has slowed down. Private employers added 1,19,000 jobs in April, well short of expectations, the ADP report showed. That sparked market rumors that Friday's payrolls data will show the economy added just 125,000 to 150,000 jobs last month, well below market expectations.