Markets may see a slightly higher start

The Indian markets are expected to begin the session on a positive note tracking supportive Asian markets. SGX Nifty is trading 19.50 points higher. Events for the day: Results: Bajaj Auto, Bajaj Holdings & Investment, Jaypee Infratech, Jaiprakash Power Ventures, United Breweries. Headlines for the day: Federal Bank launches debit cards for HNIs. SpiceJet may deploy Q400 planes in north India. 3 striking AI pilots resume duty, stir continues on day 9. Indian Indices: After yesterday’s massive sell off, the Indian markets may open on a positive note owing to the quiet supportive Asian cues and on account of SGX Nifty trading trading 19.50 points higher. Yesterday, Finance Minister Pranab Mukherjee commented that the rupee touched a record low against the dollar as risk aversion in global markets added pressure on a currency already under fire from fiscal and current account deficits that are weighing on growth. The 30-share benchmark stock index as well as the broader 50-share NSE index extended falls to nearly 2%. Earnings in focus today — Bajaj Auto, Bajaj Holdings & Investment, Jaypee Infratech, Jaiprakash Power Ventures, United Breweries. On Wednesday (May 16, 2012), the Sensex closed at 16030, down by 298 points and the Nifty settled at 4858, slipping 84 points. Global Indices: Asian shares steadied on Thursday (May 17, 2012), from the previous day's sell-off, but investors found no reason to bet on risk amid deepening turmoil in Greece and fears of contagion to other stressed euro zone economies. European shares sank to new 2012 lows on Wednesday (May 16, 2012), in a broad-based sell-off as concern over contagion from Greece gripped investors. US shares trimmed gains and the euro retreated on Wednesday on speculation that the European Central Bank has stopped funding operations for some Greek banks, rekindling fears of messy financial woes for Greece. Daily trend of FII/MF investment in equities: The FIIs have been the net sellers Indian stocks to the tune of Rs135.90 crore on May 15, 2012. The domestic investors bought Indian shares worth a net of Rs192.50 crore on May 15, 2012. The data is as per the SEBI website. Commodity Cues: Oil prices tumbled on Wednesday as expectations of a build in US crude oil stockpiles stoked fears of oversupply in a market already depressed by concerns of a Greek exit from the euro zone.