The weakness could continue for some more time as investors remain on tenterhooks. Sunday's Crimean referendum on joining the Russian Federation will be closely eyed. Russia has launched military exercises near its border with Ukraine despite threats of sanctions. China's industrial output growth was below expectations and so were retail sales propping up fears of a slowdown.
The outlook is an opening in the red. Inflation data for the month of February will be announced today and some easing may be seen. If global cues remain weak, the data will not really change the mind of investors for the day. Stock specific activity will continue even as investors weight their options in sticking to IT and pharma which had held on well in recent months. Gautam Thapar is reported to have put Crompton Greaves up for sale. The stock will be closely watched.
Japan's Nikkei 225 index is down around 2% and Hong Kong's Hang Seng index has lost 0.65%. South Korea's Kospi has shed half a percent while China's Shanghai index is marginally lower.