Flat to positive opening likely

The Indian markets may open on a flat to positive note tracking positive Asian cues and on account of SGX Nifty trading 23 points higher. Events for the day: Ex-date for bonus issue and final dividend of Atul Auto. Headlines for the day: Oil cos loss on diesel, LPG sale halve on falling global rates. Reliance Group enters into partnership with China Ming Yang. CCEA may decide on 2mn-tonne wheat export today. PNB revises deposit rates on FNCR deposits. Mukesh Ambani meets Montek for an hour. Indian Indices: Today’s start for the Indian markets is likely to be on a flat to positive note on the back of positive Asian cues and on account of SGX Nifty trading 23 points higher. On Monday (July 02, 2012), the Sensex settled at 17398, down by 31 points while the Nifty closed at 5278, slipping by 0.30 points. Global Indices: Asian stock markets inched up on Tuesday (July 3, 2012) as manufacturing data around the world highlighted the drag on growth from the protracted euro zone debt crisis, raising expectations for the Federal Reserve to take further steps to underpin the fragile economy. European equities scaled two-month highs on Monday (July 02, 2012), drawing support from policy measures to battle the euro zone crisis and expectations of more to come, but weak Chinese data kept a lid on gains. US Stocks closed mixed on Monday as weak manufacturing data at home and abroad raised concerns about global economic growth. Daily trend of FII/MF investment in equities: The FIIs have been the net sellers Indian stocks to the tune of Rs694.90 crore on June 28, 2012. The domestic investors bought Indian shares worth a net of Rs352.40 crore on June 28, 2012. The data is as per the SEBI website. Commodity Cues: After Friday's near-historic jump in prices, crude oil futures were lower again Monday following weak Chinese manufacturing data and news of the sale of a large East Coast US refinery.