Flat opening on cards; RIL nos eyed

Indian markets may open on a flat to negative note tracking mixed Asian cues. SGX Nifty is trading 6 points lower Events for the day: Results: Results: Asian Paints, Crompton Greaves, Hind Zinc, IB Financial Services, JSW Energy, Ultratech Cement, United Phosphorus, Zee Entertainment Enterprises. Headlines for the day: Govt clears disinvestment of 10.82% stake in SAIL. Spectrum auction may start in September at earliest. New notes of Rs 10, 50 to be launched soon. Godrej Properties signs MoU with Axis Bank. Indian Indices: Today, the Indian markets may open on a flat to negative note tracking mixed Asian cues. SGX Nifty is trading 6 points lower. The major contributor of Sensex, Reliance Industries Ltd (RIL) will announce its results today. Markets may remain volatile as the blue chip companies earnings will be in focus. Major companies reporting results today —Asian Paints, Crompton Greaves, Hindustan Zinc, Indiabulls Financial Services, JSW Energy, Ultratech Cement, United Phosphorus, Zee Entertainment Enterprises. On Thursday (July 19, 2012), the Sensex closed at 17279, up by 94 points while the Nifty settled at 5243, rising by 26 points. Global Indices: Asian stock markets are trading lower on Friday (July 20, 2012) amid concern Europe’s debt crisis is dragging on global growth as China pledged to keep curbs on its property market. European stocks rose to the highest level since early April. Equities hit a 15-week high on Thursday (July 19, 2012), as companies reported quarterly earnings that exceeded analysts’ estimates also the strong U.S. corporate profits boosted the sentiments, but a rise in Spanish borrowing costs rekindled fears that a full sovereign bailout was becoming inevitable. US stocks advanced on Thursday for a third straight day, with the S&P 500 at a 2-1/2 month high, as earnings from technology companies and expectations for more monetary stimulus outweighed weak economic data. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs377 crore on July 18, 2012. The domestic investors bought Indian shares worth a net of Rs20 crore on July 18, 2012. The data is as per the SEBI website. Commodity cues: Oil prices rose a seventh straight session on Thursday, reaching an eight-week high, as Middle East tensions reinforced concern about potential supply disruptions while strong corporate earnings lifted investor optimism.