Markets may see subdued opening

Markets may see a subdued opening led by negative global cues and on account of SGX Nifty trading 10 points lower Headlines for the day: Govt allows 3 airlines to directly import 12.65 lakh kl ATF. JSPL to spend over Rs 10,000 cr on capex in FY13. Petrol pump dealers defer strike, govt to consider demands. Indian Oil Corporation (IOC), NOC in marketing agreement. GMR sells Rs179 crore worth of shares in Karur Vysya Bank. Events for the day: Results: TCS, Coromandel International, Mahindra & Mahindra Financial Services, Ultratech Cement Indian Indices: The Indian markets may begin lower led by negative global cues and on account of SGX Nifty trading 5 points lower. On Friday, after market hours Reliance Industries Ltd (RIL) posted unhealthy results. The net profit of the company declined by 21.20% to Rs4236 crore for the quarter ended March 31, 2012 as compared to Rs5376 crore for the quarter ended March 31, 2011. In the coming week volatility may remain high on account of economic, earnings and stock specific news. The companies scheduled to report quarterly results today include TCS, Coromandel International, Mahindra & Mahindra Financial Services, Ultratech Cement; stocks will remain in focus. On Friday (April 20, 2012), the Sensex closed at 17374, down by 130 points and the Nifty fell 42 points to close at 5291. Daily trend of FII/MF investment in equities: The FIIs have been the net sellers Indian stocks to the tune of Rs68.10 crore on April 19, 2012.The domestic investors bought Indian shares worth a net of Rs6.50 crore on April 18, 2012. The data is as per the SEBI website. Global Indices: Asian stock markets were mixed in lackluster trade Monday (April 23, 2012) as investors awaited key events later in the week for cues, while political uncertainty weighed on sentiment towards the euro. European shares closed out their best week in a month on a high note on Friday (April 20, 2012), as buoyant German business sentiment and UK retail sales data provided a welcome distraction from the euro zone debt crisis. US Stocks surged on Friday, after earnings from a slew of bellwether companies propelled what has been a solid earnings season to date. Commodity cues: Crude oil ended higher on Friday, rising with stock markets and helped by a falling dollar, as improving economic data in Europe led to some hopes for strengthening energy demand.