Markets may see a quiet start

Today’s opening is expected to be subdued on account of mixed global cues. May inflation readings will remain in focus

Headlines for the day:

R-Infra looks for ongoing projects to boost toll biz

Citigroup to cut stake in HDFC in $260-300 mn deal

Maruti deadlock continues as negotiations fail



Events for the day:

Major corporate action

Monthly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
VMS Industries to list today
Results: Talwalkars Better Value Fitness, Gateway Distriparks, Roman Tarmat, Indian Infotech & Software
Ex-date for stock split of LS Industries
Ex-date for dividend of Oriental Bank of Commerce and Videocon Industries

Indian indices

Both the US and Chinese economy showing signs of losing momentum, the markets doesn't have traction. The global indices look unsupportive today, which may lead Indian markets to begin the session on a flat note.

Markets are in a wait and watch mode and are waiting for some cues. In the short-term, they are expected to move in a narrow range. Today the inflation numbers for May will be out. Investors will closely watch the numbers as it could have a bearing on the RBI's decision making process in its policy review on Thursday.

The equity shares of VMS Industries will list on the bourses today. The company has fixed at higher end of price band of Rs36-40 a share. VMS Industries is engaged in ship recycling activities, off-shore support business activities. It raised Rs 25.75 crore through the issue.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian equities to the tune of Rs470.10 crore on June 13, 2011. The domestic investors have bought Indian equities worth a net of Rs44.90 crore on June 09, 2011.

Global signals

The European shares closed higher on Monday (June 13, 2011), bouncing from hefty falls in the previous week, with telecommunication stocks buoyed by gains in index heavyweight Vodafone which rose on the back of a target price hike.

The US stocks drifted sideways on Monday, in what is likely a temporary pause in a sell-off brought on by growing fears of another economic downturn.

All the Asian indices were trading on a positive note on Tuesday except Hang Seng and Straits Times. SGX Nifty was trading 7.5 points down.

Commodity cues

The US crude oil prices slid close to its lowest level in a month after a Greek debt downgrade sent jitters through an already nervous commodity market.