Markets to stay in green on global support

Indian markets expect a positive start backed by strong global cues. SGX Nifty is also trading 31 points Events for the day: Major companies reporting results today — Allahabad Bank, Bharat Electronics limited, Bank of Baroda, Corporation Bank, GAIL, Havells India, Indian Overseas Bank, Oriental Bank of Commerce, Syndicate Bank. Headlines for the day: Lupin, Novartis in marketing tie-up Petronet in talks for a power plant in Kochi India Cements gets Rs 500 cr from ICICI Bank, Axis BHEL commissions 5-Mw solar power plant Indian Indices: Today on the first trading day of the week, the trading on the Dalal Street is set to begin on a strong note tracking positive global cues. SGX Nifty is also trading 31 points higher On Friday (July 27, 2012), the Sensex settled at 16839.19, up by 199 points while the Nifty closed at 5099.85, up by 57 points.Daily trend of FII/MF investment in equities: The FIIs have been the net sellers of Indian stocks to the tune of Rs930.40 crore on July 26 2012. The domestic investors bought Indian shares worth a net of Rs401.20 crore on July 26, 2012. The data is as per the SEBI website. Global Indices: This week's calendar has a double-whammy. The Fed's monetary policy statement will come one day before an ECB meeting packed with intrigue. ECB President Mario Draghi said last week the bank was ready to do whatever was necessary, within its mandate, to save the euro. Asian stocks rose for a third day on speculation that European Union policy makers will take action to ease the debt crisis. Japan's Nikkei share average rose to a one-week high on Monday, powered by growing expectations that the U.S. Federal Reserve and the European Central Bank may implement further stimulus measures. Europe's top shares climbed to one-week highs on Friday, powered by expectations of ECB action as policymakers stepped up rhetoric in support of the euro, which leaves the market exposed to a sharp retreat if action fails to follow this week. But with expectations running high, and with Germany still reluctant to approve some of the more radical measures proposed to solve the euro zone crisis. US stocks took off at the end of last week, drawn by the allure of a helping hand from the world's two most powerful central banks. Traders are unlikely to resist those charms again this week. Equity markets have been leaning for weeks on hope for stimulus from the Fed or ECB. Despite weeks of softening economic data, including a dismal payrolls report for June and a poor outlook for corporate profits. Commodities: Crude oil fell on Friday.