Markets may see a flat opening

The Indian markets may begin the trade on a flat note on the back of mixed Asian cues. SGX Nifty is trading 2.50 points higher Events for the day: Ex-date for 1st interim dividend of Page Industries. Headlines for the day: Hero MotoCorp to merge with investment arm. Pranab writes to CMs for cut in taxes on petrol. Three striking AI pilots appear before DGCA. BJP to launch country-wide movement against petrol price hike. Indian Indices: The Indian markets are likely to open the trade on a flat to positive note on account of positive Asian cues. The markets are likely to trade rangebound. SGX Nifty is trading 8.50 points higher. On Monday (June 04, 2012), the Sensex closed at 15988, up by 23 points while Nifty settled at 4848, rising by 6 points. Global Indices: Asian shares staged a mild recovery on Tuesday (June 5, 2012), as investors looked towards European policymakers and the wider G7 to take decisive action to address the worsening euro zone crisis. European shares were mixed on Monday (June 04, 2012), after grim economic data from across the globe spurred some investors to bet on a greater likelihood of the central bank policy action to stimulate growth. US stocks were flat on Monday after a steep drop in the previous session that erased the Dow industrials' gains for the year. Daily trend of FII/MF investment in equities: The FIIs have been the net sellers Indian stocks to the tune of Rs138.40 crore on June 03, 2012. The domestic investors sold Indian shares worth a net of Rs457.30 crore on May 31, 2012. The data is as per the SEBI website. Commodity Cues: Oil prices edged higher on Monday, snapping a string of four lower closes, as a drop to multi-month lows attracted bargain hunters and as the euro rose against the dollar on hopes that Europe's leaders can keep the euro zone intact.