The market may open flat to slightly lower. Asian stocks were mixed.

Key benchmark indices surged on Tuesday, 12 June 2012 on expectations the Reserve Bank of India (RBI) will cut interest rates at mid-quarter monetary policy review on 18 June 2012 to prop up slowing economy after the latest data showed industrial production grew just 0.1% in April 2012. The BSE Sensex jumped 194.79 points or 1.17% to settle at 16,862.80, its highest closing level since 7 May 2012.

Foreign institutional investors (FIIs) sold shares worth a net Rs 56.60 crore on Tuesday, 12 June 2012, as per provisional figures from the stock exchange.

Asian stock markets were mixed on Wednesday as investors watched for further developments in Europe. Key benchmark indices in China, Hong Kong, Japan, and Indonesia rose by between 0.02% to 0.33%. Key benchmark indices in South Korea, Singapore and Taiwan fell by between 0.11% to 0.5%.

The Federal Open Market Committee holds its next policy meeting on June 19-20. It remains to be seen if the Fed extends Operation Twist -- a plan expiring this month that lengthens the average duration of bonds in the Fed's portfolio. The Fed launched Operation Twist in September 2011 to lower long-term borrowing costs.

The Organization of Petroleum Exporting Countries (OPEC), which supplies about 40% of the world's crude, may maintain its official daily production ceiling at 30 million barrels a day when the group meets in Vienna tomorrow, 14 June 2012.

The 7th Group of 20 industrial and developing nations summit is scheduled to be held in Los Cabos, Mexico on 18 and 19 June 2012.