Flat to negative start likely

Indian markets signal flat to negative start led by mixed Asian cues. SGX Nifty is also trading 8.50 points lower. Events for the day: Ex date for interim dividend of APM Industries. Headlines for the day: Sintex to raise up to $150 mn through FCCBs. RIL gets nod to drill a well in D-19 field. Kingfisher seeks more time to submit revival plan to DGCA. Karnataka Bank cuts lending rate by 0.25%. Indian Indices: The Indian markets may open on a flat to negative note tracking mixed Asian cues. SGX Nifty is also trading 8.50 points lower. On Thursday (November 15, 2012), the Sensex closed at 18471, down by 147 points while the Nifty settled at 5631, slipping by 36 points. Global Indices: Asian stock markets steadied on Friday (November 16, 2012) after falling nearly 2% this week amid concerns about the looming US 'fiscal cliff', while Japanese stocks rallied for a second day on expectations of further monetary policy easing after an election next month. European shares ended lower on Thursday (November 15, 2012) after data showed the euro zone had slipped into recession, with the Netherlands particularly hard hit. US Stocks were little changed on Thursday as the prospect of a drawn-out battle over impending tax and spending changes made investors wary of getting into the water, while retailer Wal-Mart tumbled after disappointing sales. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs291.60 crore on November 12, 2012. The domestic investors bought Indian shares worth a net of Rs17.70 crore on November 13, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil slipped on Thursday with investors worried about weak economic activity in the euro zone as well as wrangling in Washington over the looming fiscal cliff situation.