Positive start likely on Asian support

The Indian markets are expected to open in the green zone tracking positive Asian cues. SGX Nifty is also trading 74.50 points higher. Events for the day: India December Markit Manufacturing PMI. Stock in news: Hero MotoCorp posts marginal rise in sales. OBC cuts interest rate on home loans by 0.1%. NMDC in talks for coking coal mines in Russia, Mozambique. Indian Indices: The Indian stocks are expected to open on a positive note led by big rally in Asian markets. SGX Nifty is also trading 74.50 points higher. On Tuesday (January 1, 2013), the Sensex closed at 19580, up by 154 points while the Nifty settled at 5950, rising by 45 points Global Indices: Asian stock markets started new year trading with tentative gains as investors anxiously wait to see if the US Congress can strike a last-minute compromise and avert the harsh 'fiscal cliff' tax rises and spending cuts that are technically already in force. The European shares and US stocks remained closed on Tuesday (January 01, 2013) on account of New Year holiday. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs871.50 crore on December 31, 2012. The domestic investors sold Indian shares worth a net of Rs110.80 crore on December 24, 2012. The data is as per the SEBI website. Commodity Cues: Crude oil prices rose on Tuesday.