Opening bell: Is market poised for more trouble now?

After a flat trading session Monday, the market seems to be heading towards a turbulent time with no positive global cue or any domestic macro trigger. 

Udayan Mukherjee, Managing Editor, CNBC-TV18 says, "Today it might be little bit more troublesome for the market. Global markets are not looking good, Asia around is looking bad this morning and last evening's services data surely would have knocked off the macro stuffing. We knew manufacturing was weak but the services data clearly is ringing a lot of alarm bells on where gross domestic product (GDP) growth will break down to during the course of the next few quarters."
Meanwhile, in earnings to watch today- Crompton Greaves' April-June topline is expected to come in steady with a 9 percent growth due to their decent orderbook. Profitability for the company will depend on overseas operations turnaround, mix of products and projects.
Also watch out for Tata Power and Unitech that will report first quarter numbers today. Stock in news
Financial Technologies will remain in focus today. Sources indicate that the government has decided to bar e-series contract trading on National Spot Exchange. The bar applies to gold, silver, zinc, lead, nickel & platinum. Meanwhile the Forward Markets Commission (FMC) tells NSEL to settle dues to small investors on priority.
Wadhawan and Rakesh Wadhawan have been named defaulters by Indiabulls Financial Services. According to Indiabulls, HDIL promoters have failed to pay interest on a personal loan.
In earnings, Aptech reported a very weak set of numbers in April-June. Profits tumbled 70 percent to less than Rs 5 crore, while margins collapsed to around 10 percent from over 20 percent. 
Nalanda India Equity fund has bought a little less than 22 lakh shares of Triveni Turbines at Rs 50 a share. Global action
It was a flat close for US markets as investors look for further catalysts.
On the economic front, the pace of growth in the US services sector accelerated in July, picking up from a three-year low. The institute for supply management's services index rose to 56 from 52.2 in June.
Dallas Fed President Richard Fisher said the Federal Reserve is closer to winding down its USD 85 billion a month asset-purchase programme following the July employment data, adding that the central bank does not seem to have achieved much in terms of job creation with the QE programme.
In stock specific action, Apple gained to a four-month high after the Obama administration overturned an international trade ruling that said some sales of older iPhones and iPads should be banned because they infringed a Samsung electronics patent. The iPhone maker's stock was up more than 20 percent from its 52-week low of USD 385 in April.
In Europe, major indices close narrowly mixed as a worse-than-expected earnings report from HSBC weighed on the market following strong data from Europe's services sector. The news from HSBC came after euro zone services PMI came in at 49.8 in July, its highest level since January 2012.
Asian markets were trading weak. China's Shanghai Composite slipped 0.35 percent or 7.11 points at 2,043.37.
Hong Kong's Hang Seng plunged 1.64 percent or 364.28 points at 21,857.73.
Japan's Nikkei shed 1.03 percent or 147.06 points at 14,110.98.  Straits Times was down 0.59 percent or 19.15 points at 3,222.64. South Korea's Seoul Composite shed 0.81 percent or 15.47 points at 1,900.75.  Other asset class
In the currency space, the euro holds above 1.32 to the dollar. The dollar index slips to sub 82 levels. The dollar-yen is around 97.
In commodities, Brent crude hovers around USD 108 per barrel.  From precious metals space, gold trades around USD 1300 an ounce.