Market may open flat to slightly higher

Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 4 points at the opening bell. Asian stocks were mostly lower. Bajaj Auto unveils Q1 June 2012 results today, 18 July 2012. Tata Motors turns ex-dividend today, 18 July 2012, for dividend of Rs 4 per share for the year ended 31 March 2012 (FY 2012). Foreign institutional investors (FIIs) bought shares worth a net Rs 474.95 crore on Tuesday, 17 July 2012, as per provisional data from the stock exchanges. US shares ended in positive territory on Tuesday after markets initially pulled back on the first day of Federal Reserve chairman Ben Bernanke's testimony to Congress but then recovered after he spoke about slow progress in the US economy and job market. Bernanke testifies the House Financial Services committee later in the global day today, 18 July 2012. The Fed's Beige Book report is slated for release on Wednesday, 18 July 2012. A report from Federal Reserve Bank of Philadelphia is due for release on Thursday, 19 July 2012. Earnings also supported the US equity market on Tuesday, with Goldman Sachs Group Inc. and Coca-Cola Co. reporting solid results.