Markets may rise at start

Tracking gains in the Asian stocks, the Indian markets are likely to open on a positive note. SGX Nifty is trading 9.50 points higher. Events for the day: Earnings in focus today - Apollo Hospitals Enterprise, Aurobindo Pharma, Ipca Laboratories, Power Grid Corporation of India, Welspun Corp, Hindustan Petroleum Corporation, Oil and Natural Gas Corporation, Steel Authority of India, United Spirits, GMR Infrastructure, Tata Motors, Sun Pharmaceutical Industries, Lanco Infratech, EIH, Hindustan Copper. Headlines for the day: OIL in talks to buy 51% stake in Reliance Gas Transportation. RCom awaits for spectrum guidelines to sell tower biz. Rupee fall won't hurt India's ratings: Moody's. Airtel rating unaffected by Qualcomm deal: Fitch. Hotel Leela promoter firm pledges 18.56% stake with SBI, BOB. Indian Indices: After yesterday’s rally, the Indian markets may extend its gains and may open on a flat to positive note tracking the gains in the Asian equities and SGX Nifty which is trading 9.50 points higher. Markets may change the direction due to the earnings flow. Earnings in focus today - Apollo Hospitals Enterprise, Aurobindo Pharma, Ipca Laboratories, Power Grid Corporation of India, Welspun Corp, Hindustan Petroleum Corporation, Oil and Natural Gas Corporation, Steel Authority of India, United Spirits, GMR Infrastructure, Tata Motors, Sun Pharmaceutical Industries, Lanco Infratech, EIH, Hindustan Copper. On Monday (May 28, 2012), the Sensex closed at 16416, up by 199 points while Nifty settled at 4985, rising by 65 points. Global Indices: Asian stock markets eased on Tuesday (May 29, 2012), with a relief rally after last week's heavy selling faltering quickly as a surge in Spanish borrowing costs added to simmering worries about Europe's debt restructuring challenges. European shares pared back the earlier gains to trade flat on Monday (May 28, 2012) with the investors once again preoccupied by the problems surrounding Spain's banks and Greek polls showing the growing support for pro-bailout parties which eased the speculation about a disorderly exit by Athens from the single currency. US shares were closed for the Memorial Day holiday on Monday, which typically resulted in subdued stock trading globally. Daily trend of FII/MF investment in equities: The FIIs have been the net sellers Indian stocks to the tune of Rs364.10 crore on May 27, 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 surged on Monday boosted by a weaker dollar against the euro and on continued fears that a dispute over Iran's nuclear programme could disrupt oil supplies.