Flat to negative start likely

The Indian markets may begin today’s trade on a flat to negative note led by mixed global cues. SGX Nifty is trading 2.50 points lower. Events for the day: Ex date for dividend of MMTC, Ruby Mills. Ex date for final dividend of Sun TV Network, NMDC.. Headlines for the day: ICICI Bank, HDFC Bank, Axis Bank cut deposit rates. NDTV lays off over 50 people. CIL to spend Rs24,500 cr on capex, plans Rs14,500 cr on rail. Indian Indices: The Indian markets may start on a flat to negative note tracking mixed global cues. SGX Nifty is also trading 2.50 points lower. Yesterday, the Index of Industrial Production (IIP) for July 2012 came in at 0.1% versus -1.8% seen in June 2012. On Wednesday (September 12, 2012), the Sensex settled at 18000, up by 147 points while the Nifty closed at 5431, rising by 41 points. Global Indices: Asian stock markets eased on Thursday (September 13, 2012) ahead of the US Federal Reserve's decision later in the day, but investors remained optimistic of further stimulus action to bolster the world's largest economy. European shares hit fresh highs on Wednesday (September 12, 2012) as a ruling from a top German court paved the way for policymakers to take further steps to tackle the euro zone's debt crisis, although lingering worries over the economy pushed markets off intraday peaks. US stocks ended little changed on Wednesday, erasing early gains, as the investors turned cautious before a Federal Reserve decision on another round of monetary stimulus to boost the economy. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs556.30 crore on September 11, 2012. The domestic investors sold Indian shares worth a net of Rs153.30 crore on September 11, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil posted a slight drop on Wednesday after government data showed a surprise increase in US oil stockpiles and as tensions flared in the Middle East.