Flat start on the cards

Today’s start is expected to be on a positive note tracking supportive Global cues. SGX Nifty is trading 2.50 points lower. Events for the day: Ex-date for stock split of Alpha Graphic India. Ex-date for final dividend of Birla Corporation. Headlines for the day: RIL warns of further output drop if govt disapproves budget. Ashok Leyland to raise Rs750 cr via private placement. Finance Ministry pitches for cut in CRR by Reserve Bank. SBI expects Reserve Bank to cut CRR by 1%. Indian Indices: After yesterday’s volatile session on release of Index of Industrial Production ( IIP) data for the month of April 2012, which came in at 0.1% versus -3.5% seen in March 2012. Today, the opening of the Dalal Street will be on a flat note tracking mixed Asian cues. SGX Nifty is trading 2.50 points lower. On Tuesday (June 12, 2012), the Sensex closed at 16862, up by 194 points while Nifty settled at 5115, rising by 61 points. Global Indices: Asian shares advanced on Wednesday (June 13, 2012), following gains in European and US markets where the bargain hunters bought beaten down stocks, but markets remained vulnerable to the euro zone's debt woes as Spanish yields hit record highs on worries over banks. European shares rose on Tuesday as (June 12, 2012) as the reports of official preparations for a possible Greek exit from the euro zone and rising skepticism over the Spanish bank bailout plan limited the demand for riskier assets. US shares rose on Tuesday, staging a comeback rally to end up by more than 1 percent as Spanish bond yields came off at euro-era record highs. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs214.10 crore on June 11, 2012. The domestic investors bought Indian shares worth a net of Rs4.80 crore on June 07, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil slipped on Tuesday, extending losses on fears the euro zone debt crisis will worsen and hurt the global economy, threatening demand growth, while OPEC is seen likely to keep production levels unchanged