Flat start on the cards

The Indian markets may begin the trade on a flat note on the back of mixed Asian cues. SGX Nifty is trading 32.50 points higher. Headlines for the day: Cairn Energy acquires Agora Oil and Gas. Jewellery industry to see muted demand in 2012: Fitch. RIL raises Rs10K cr for petrochemical plant expansion. MTNL to offer VRS to about 20,000 employees. Sesa Goa shareholders meet June 19 on Sterlite merger. Events for the day: Results: Apollo Tyres, Cadila Healthcare, Canara Bank, Cipla, Jain Irrigation Systems, Jubilant FoodWorks, Lupin, NTPC. Indian Indices: The Indian markets may begin the trade on a flat note on the back of mixed Asian cues. SGX Nifty is trading 32.50 points higher. Earnings will continue to pour in and may drive the sentiments. Companies scheduled to announce results today — Apollo Tyres, Cadila Healthcare, Canara Bank, Cipla, Jain Irrigation Systems, Jubilant FoodWorks, Lupin, NTPC; stocks will remain in focus. Yesterday, on (May 10, 2012), the Sensex settled at 16480, down by 67 points and the Nifty fell 25 points to close at 4975. Global Indices: Asian stock markets fell for a sixth straight session on Thursday (May 10, 2012), with sentiment taking a further hit from mounting worries about the health of Spanish banks while deepening political chaos in Greece seemed to put it at risk of insolvency. European shares provisionally ended at their lowest level in four months on Wednesday (May 9, 2012), as growing political uncertainty in Greece and concerns over the Spanish banking system hit markets. US shares pared their losses into the close of European trading after signs that Greece will receive its latest bailout package, though concerns continued to hover around the euro zone. Daily trend of FII/MF investment in equities: The FIIs have been the net sellers Indian stocks to the tune of Rs369.30 crore on May 08, 2012.The domestic investors bought Indian shares worth a net of Rs26.10 crore on May 07, 2012. The data is as per the SEBI website. Commodity cues: Crude oil advanced on Wednesday.