Markets signal firm start on global support

The Indian stock markets are expected to open on a positive note as the global cues look supportive. SGX Nifty is trading 24.00 points higher. Events for the day: Results: Century Textiles, Bajaj Finance, Karnataka Bank, J&K Bank, United Spirits, Adani Ports, Bajaj Finserv and IRB Infra will announce their quarterly results today. Headlines for the day: RBI sends showcause notices to ICICI, HDFC and Axis banks Bond yields decline; fuel hopes of further monetary easing Tata Steel's $1.6 bn write-off not to impact rating: Moody's SBI chairman flags NPA as area of concern Hero launches brand in Latin America Indian Indices: The Indian equities are likely to start the trading session in the green zone as the global cues look supportive. Volatility may remain high post key economic event like Inflation numbers for the month of April which was announced yesterday during market hours. Investors will remain cautious as the Q4 earnings season is now at its peak has mixed kitty of earnings. SGX Nifty is trading 24.00 points higher. On Tuesday (May 14, 2013), the S&P BSE Sensex wrapped trade at 19722.29, up by 31.00 points while the NSE Nifty rose 15 points to settle at 5995.40. Global Indices: Asian shares were steady on Wednesday, with Tokyo stocks surging to a fresh 5-1/2 year high as Japanese exporters rallied on the yen's sharp slide. European shares stretched to a new five-year closing high on Tuesday, helped by a batch of forecast-beating company results and renewed signs of appetite for stocks from cash-rich investors. US stocks rallied to fresh highs on Tuesday as investors picked up large-cap companies' shares on the expectation that central bank stimulus will help propel the rally further.