The market is likely to extend its three-day fall on weak global cues.

Foreign institutional investors (FIIs) bought shares worth a net Rs 317.42 crore on Thursday, 10 May 2012. Earlier they sold shares worth Rs 1406.13 crore in three trading sessions from 7 to 9 May 2012 as per data from the stock exchanges.

Key benchmark indices fell for the third straight day on Thursday 10 May 2012 to hit their lowest level in more than 16 weeks as data showing selling by foreign institutional investors over the past three trading sessions and weakness in European markets hurt investor sentiment. The BSE Sensex shed 59.53 points or 0.36% to settle at 16,420.05, its lowest closing level since 16 January 2012.

Asian markets dropped on Friday as political turmoil in Europe kept investors on the sidelines. Investors were also cautious ahead of April trade data due from China later in the session. Key benchmark indices in Hong Kong, Japan, Indonesia, Singapore, South Korea and Taiwan were down by 0.07% to 1.03%. China's Shanghai Composite rose 0.17%.

US stocks ended mixed on Thursday as disappointing outlook from tech bellwether Cisco Systems and caution about Europe weighed on sentiments. The Dow Jones Industrial Average rose 19.98 points, or 0.16%, to 12,855.04. The Standard & Poor's 500 index added 3.41 points, or 0.25%, to 1,357.99. The Nasdaq Composite Index fell 1.07 points, or 0.04%, to 2,933.64.