The market may extend Wednesday's (30 May 2012) losses on weak Asian stocks.

The market may remain volatile today, 31 May 2012, as traders roll over positions from the near-month May 2012 series to June 2012 series. The May 2012 derivatives contracts expire today, 31 May 2012.

Key benchmark indices dropped in choppy trade on Wednesday, 30 May 2012 as stocks fell across the world stocks amid incessant worries about Spain's finances and the fallout from the European debt crisis. The BSE Sensex lost 126.43 points or 0.77% to 16,312.15, its lowest closing level since 25 May 2012.

Foreign institutional investors (FIIs) sold shares worth a net Rs 10.75 crore on Wednesday, 30 May 2012, as per provisional figures from the stock exchange.

The arrival of crucial monsoon rains over India's mainland through the southern state of Kerala may reportedly be delayed by three to four days beyond the forecast date of June 1. Normally, the monsoon arrives over the country in the first week of June. A timely arrival of monsoon rains is critical for the sowing of summer crops such as rice, oilseeds, sugar cane and cotton. Around 60% of summer crops are rain-fed, and if monsoon rainfall is more or less on schedule and in sufficient amounts, crops that benefit from the rains account for around half of India's total agricultural output.

Asian stocks fell on Thursday as Europe's debt crisis threatened to engulf countries other than Greece and Japan's factory output trailed estimates. Key benchmark indices in China, Indonesia, Singapore, Hong Kong, Japan, Taiwan and South Korea were down by 0.61% to 1.92%.

Japan's industrial production rose 0.2% in March from the previous month, the Trade Ministry said in Tokyo today.

Greek voters return to the polls on 17 June 2012 after the splintered results of a May 6 parliamentary election left no party able to put together a government. Opinion polls showed on 26 May 2012 that the pro-bailout New Democracy party ahead of rivals in upcoming polls in Greece. The reports eased fears that Greece's exit from the euro-zone was imminent.

US stocks tumbled on Wednesday as surging bond yields in Spain and Italy ratcheted up tensions in financial markets about Europe's ability to solve its growing debt crisis.