Markets may remain cautious at start

Today, it is likely to be a cautious opening for the Indian markets led by mixed global cues. SGX Nifty is also trading 7.50 points higher. Events for the day: Tara Jewels to list today. Stock in news: Shriram EPC bags $230 mn order in Iraq. United Bank of India raises Rs300 cr via perpetual bonds. ICICI Bank introduces flexible recurring deposit iWish. Indian Indices: The start looks cautious for Indian markets today led by mixed Asian cues. SGX Nifty is also trading 7.50 points higher. Now coming to listing section, Mumbai-based jewellery manufacturer and retailer Tara Jewels will list its equity shares on exchanges today (December 6, 2012). The issue price is fixed at higher end of price band of Rs225-230 a share. On Wednesday (December 05, 2012), the Sensex settled at 19391, up by 43 points while the Nifty closed at 5900, rising by 11 points. Global Indices: Asian stock markets were steady near 16-month highs on Thursday (December 06, 2012), supported by hopes that US lawmakers will reach a compromise to avoid the so-called 'fiscal cliff' of year-end tax hikes and spending cuts which threaten to push the US economy back into recession. The European shares closed mostly higher on Wednesday (December 05, 2012), following firm cues from Asia where markets ended higher after Chinese shares soared amid signals of an accommodative economic policy. US stocks were mostly higher on Wednesday, even as Apple, the most valuable company in the United States, suffered its worst day of losses in almost four years. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs789.80 crore on December 03, 2012. The domestic investors sold Indian shares worth a net of Rs176.00 crore on December 03, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil slipped on Wednesday, pulled lower by a 1.7% drop in gasoline futures, after government data showed a surge in fuel stockpiles that suggests production is outpacing demand.