Dalal street may see flat to negative start

Indian markets may open on flat to negative note tracking weak Asian cues and on account of SGX Nifty which is trading 26.50 points lower. Events for the day: New Listings: Speciality Restaurants, Monarch Health Services. Results: DLF, Pipavav Defence and Offshore Eng, Financial Technologies (India), Gail (India), Mahindra & Mahindra, Rashtriya Chemicals & Fertilizers, Tata Chemicals, Havells India, Housing Development & Infrastructure Ltd, United Breweries, Colgate-Palmolive (India), Jaiprakash Associates. Headlines for the day: CCI approves RIL stake purchase in Network18 group. Loop Telecom approaches TDSAT seeking refund of licence fee. SBI to approach Moody's for an upgrade. BPCL, HPCL, IOC slide as govt rules out diesel price hike. Indian Indices: After 2-days rally, the Indian markets may open on a flat to negative note led by weak Asian cues and on account of SGX Nifty which is trading 26.50 points lower Earnings in focus today – DLF, Pipavav Defence and Offshore Eng, Financial Technologies (India), Gail (India), Mahindra & Mahindra, Rashtriya Chemicals & Fertilizers, Tata Chemicals, Havells India, Housing Development & Infrastructure Ltd, United Breweries, Colgate-Palmolive (India), Jaiprakash Associates. Investors will keenly watch for today’s listing. New Listings: Equity shares of a fine dining operator in India, Speciality Restaurants will be listed on exchanges today. The company has fixed the issue price at Rs150 per equity share of face value of Rs10 each for cash at a premium. Equity shares of Monarch Health Services, involved in the cosmetics industry will be listed on BSE small and medium enterprises (SMEs) platform today. On Tuesday (May 29, 2012), the Sensex closed at 16438, up by 21 points while Nifty settled at 4990, rising by 4 points. Global Indices: Asian stock markets fell on Wednesday (May 30, 2012), hurt by fears of Spain's banking woes which may push up the country's borrowing costs to unsustainable levels although the falls were limited on hopes that the Greece would stay in the euro zone and for Chinese stimulus steps. European shares extended their gains on Tuesday (May 29, 2012), with the Spanish stocks trimming their heavy losses, on the mounting hopes of fresh action by the European Central Bank to help the ailing euro zone banks. US Stocks rose on Tuesday on the hopes that China may unleash more spending measures and Greek election polls pointing to a support for pro-bailout parties. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs179.30 crore on May 28, 2012. The domestic investors bought Indian shares worth a net of Rs162 crore on May 25, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil extended previous session gains and rose on Wednesday.