Flat start on cards; RBI policy in focus

Indian markets may open on a flat note tracking mixed global cues. SGX Nifty is also trading 11 points higher. Events for the day: First quarter review of monetary policy 2012-13. Results: Bhushan Steel, Cipla, Jaiprakash Associates, Ipca Laboratories, IDBI Bank, Hexaware Technologies, Gujarat Mineral Development Corporation, Gujarat Fluorochemicals, Titan Industries, Petronet LNG. Headlines for the day: CIL Board to meet tomorrow to discuss fuel supply pacts. Warburg Pincus open offer to Future Cap shareholders delayed. Steel makers double pellets imports in May. Indian Indices: Today, the Indian markets may extend yesterday’s gain and may open on a flat note tracking mixed global cues. SGX Nifty is also trading 11 points higher. Markets are keenly awaiting RBI’s First quarter monetary policy that will decide market movement for the day. Major companies reporting results today — Bhushan Steel, Cipla, Jaiprakash Associates, Ipca Laboratories, IDBI Bank, Hexaware Technologies, Gujarat Mineral Development Corporation, Gujarat Fluorochemicals, Titan Industries, Petronet LNG. On Monday (July 30, 2012), the Sensex settled at 17143, up by 304 points while the Nifty closed at 5199, rising by 99 points. Global Indices: Asian stock markets paused on Tuesday (July 31, 2012) as investors grew cautious ahead of monetary policy meetings by the European Central Bank and the US Federal Reserve, with scepticism countering expectations for more stimulus steps to support fragile global economies. European shares surged on Monday (July 30, 2012), with the blue chip Euro STOXX 50 index hitting a three-month high, as investors bet the European Central Bank will unveil steps to ease Spain and Italy's soaring borrowing costs at its meeting later this week. US stocks closed flat on Monday as investors paused following the best two-day run this year, with central bank meetings and a full load of U.S. economic data looming. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs642.20 crore on July 27 2012. The domestic investors bought Indian shares worth a net of Rs82.80 crore on July 27, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil took a breather on Monday and were marginally lower as investors looked ahead to a busy week of economic news.