Markets may start in green on Budget day

The most awaited event of the year in India will be keenly watched. The opening on the Budget day is likely to be in the green zone following positive global cues.
Headlines for the day
Kingfisher to have full recovery plan in 2-3 days: Mallya
India will buy 1,000 new aircraft by 2030: Airbus
RIL KG-D6 gas fields may hold lower reserves: Niko
EGoM to decide on further sugar exports up to 1 mn tonne
ONGC gives 30% dividend, govt nets Rs 888 cr
Oil cos hike jet fuel prices by 2%



Events for the day:
Union Budget
Ex-date for interim dividend of Best Eastern Hotels
Ex-date for special dividend of Gujarat Gas Co.
Indian indices
All ears and eyes will be glued to the television sets today as the Finance Minister Pranab Mukherjee will be presenting The Union Budget for the Financial Year 2012-13 for the seventh time. The Union Budget is a much awaited event as it not only directly impacts the policies, but also sends a strong signal about the Government’s focus. Considering the recent policy implementation track record and the events in the past 2-3 months, mixed expectations and surprises are there from the Budget this year. Trading is expected to remain cautious today.
The opening is likely to be in the green zone following positive global cues. Good US data has added to signs that the world’s biggest economy is recovering.
Daily trend of FII/MF investment in equities

The FIIs have been net buyers of the Indian stocks to the tune of Rs2074.90 crore on March 14, 2012. The domestic investors sold Indian shares worth a net of Rs472.60 crore on March 14, 2012. The data is as per the SEBI website,

Global Cues:
The Asian indices were mixed on Friday (March 16, 2012). A fresh batch of data suggesting the US economy may be picking up momentum underpinned investor sentiment. SGX Nifty was trading 16 points higher.
The European shares closed at near 33-week highs on Thursday (March 15, 2012), as further signs of an improvement in the US economy boosted sentiment towards equities.
The US stocks advanced on Thursday, with the S&P 500 topping the 1400-mark for the first time since the financial crisis on a strong run of economic data.
Commodity cues
Oil prices fell on Thursday following some early drama in the market when the White House was forced to deny a report that it is preparing to release crude from emergency reserves in coordination with Britain.