Flat start on the cards; Inflation nos in focus

The Indian markets are likely to start on a flat note tracking mixed global cues. The inflation numbers for April 2011 will be eyed Headlines for the day: Mukesh Ambani gets fresh BofA shares. Central Bank says it needs over Rs14K cr for Basel III. RINL IPO likely to be launched on July 3. Fitch cuts JPMorgan credit rating to A-plus. Farmers seek 70% revenue-sharing with sugar mills. AI pilots' stir enters 5th day, 16 flights cancelled. Govt puts on hold raising FDI limit in insurance sector. Indian Indices: On the first day of the week, the Indian markets are likely to begin on a flat note tracking mixed global cues. SGX Nifty is trading marginally higher. Rangebound trend is what the markets have been following amid volatility. Today the markets may take cues from the April inflation numbers. The key indices may remain in a narrow range and continue to trade volatile. Investors will keep a close eye on shares of Adani Ports and Special Economic Zone, Adani Power, Alstom T&D India, Ashok Leyland, Eicher Motors, Havells India, Indraprastha Gas, JSW Steel, Larsen & Toubro, Manappuram Finance as the companies announce results today. On Friday (May 11, 2012), the Sensex closed at 16293, down by 127 points and the Nifty settled at 4928, falling 36 points. Global Indices: Asian shares eased on Monday (May 14, 2012), as investors saw more reasons to cut risk after talks in Greece to form a new government failed. A German vote pointed to growing opposition to austerity steps and China took further steps to support its fragile growth. US shares slipped on Friday (May 11, 212), extending a weekly decline, as banks tumbled after JP Morgan Chase disclosed a $2 billion trading loss. Treasuries capped the longest run of weekly gains since 1998. European stocks recovered from earlier declines to end higher on Friday, as resilient US markets and an encouraging reading on US consumer sentiment helped to offset broad-based worries about the banking sector. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs342.30 crore on May 10, 2012. The domestic investors bought Indian shares worth a net of Rs26.10 crore on May 07, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil fell on Friday as weaker industrial growth in China and persistent euro zone worries clouded the oil demand outlook. A four-year-high reading in US consumer confidence failed to halt the day's selling, causing crude futures to fall for a second straight week, racking up the biggest two-week percentage loss since the end of September last year.