Flat to positive start likely

Indian markets are expected to open on a positive note on the back of mixed Asian cues. SGX Nifty is also trading 9 points higher. Events for the day: Inflation for June 2012. Results: Castrol India, Exide Industries. Headlines for the day: J&K Bank approves record 335% dividend. OilMin resends query on CBM gas pricing to RIL. Kingfisher flights resume service. Savings account rates to stay at 4%: HDFC Bank. Indian Indices: After previous week's fall, today on the first trading day of the week, the Indian markets may open on a flat to positive note tracking positive Asian cues. SGX Nifty is also trading 9 points higher. Japanese markets are shut today for a public holiday. Inflation for the month of June 2012 will be out today. Volatility may remain high, with the markets reacting to the major events this week. Major companies reporting results today — Castrol India and Exide Industries. On Friday (July 13, 2012), the Sensex closed at 17213, down by 18 points while the Nifty settled at 5227, slipping by 8 points. Global Indices: Asian shares extended their rally on Monday (July 16, 2012) as fears of an economic hard landing in China subsided, with last week's softer growth data which was within expectations and Premier Wen Jiabao on Sunday raising the prospects of more policy stimulus if needed. European shares posted their highest close of more than a week on Friday (July 13, 2012) as better-than-expected Chinese growth data propelled gains in mining stocks and helped offset fresh worries over the euro zone debt crisis. US stocks surged on Friday as data in China allayed concerns about a further slowing of global growth and also the rise in bank shares after the release of JP Morgan's earnings. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs313.50 crore on July 12, 2012. The domestic investors sold Indian shares worth a net of Rs221.70 crore on July 12, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil prices slipped on Friday.