Markets likely to start in green

The Indian markets may open the trade on a positive note tracking gains in the Asian region and account of SGX Nifty trading 32 points higher. Events for the day: Ex-date for stock split of Agarwal Holdings. Ex-date for 2nd interim dividend of India Motor Parts & Accessories. Headlines for the day: TV18, Viacom18 to form JV for channel distribution. Lupin receives USFDA approval for antibiotic capsules. AI plans to hire pilots to run long-haul international ops. 8 blocks of 2G spectrum to be auctioned. Indian Indices: The Indian markets may open on a positive note tracking gains in the Asian region on account of SGX Nifty trading 32 points higher. From the global cues, event that everyone was looking out for that is the G7 meet didn't come with any surprises. Finance ministers from the Group of Seven (G7) major economies discussed the progress of financial and fiscal union in Europe in an emergency call on Tuesday and agreed to work together to deal with the problems in Spain and Greece, but they didnt took any joint action. The European Central Bank (ECB) holds its monthly rate-setting meeting later on Wednesday, and US Federal Reserve Chairman Ben Bernanke will testify before a congressional panel on Thursday. On Tuesday (June 05, 2012), the Sensex closed at 16020, up by 32 points while Nifty settled at 4863, rising by 15 points. Global Indices: Asian shares nudged up on Wednesday (June 6, 2012) but were capped by concerns that Europe's financial strains could intensify without a global response, as Spain warned that it was being shut out of credit markets. European shares advanced on Tuesday (June 05, 2012) after a choppy, nervous session as the investors tentatively bought into beaten-down shares on the hopes of global central bank's policy action to revive the economic recovery. US stocks surged on Tuesday, recovering some ground from last week's sell off, as data showing the vast US services sector improved in May. Daily trend of FII/MF investment in equities: The FIIs have been the net sellers Indian stocks to the tune of Rs574.20 crore on June 04, 2012. The domestic investors bought Indian shares worth a net of Rs86.50 crore on June 04, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil ended modestly higher on Tuesday, on some upbeat economic data in the form of growth in the US service sector and as well on bargain buying.