BOR: Market Outlook: Indian markets are expected to open in green on the back of positive global trend.

Market Outlook: Indian markets are expected to open in green on the back of positive global trend. The Nifty is range bound between 4450 and 4620-50, on the upside if nifty crosses 4620-4650 resistance we may see the target of 4900. Midcaps may outperform and largecap may remain flat.

Nifty Outlook: Pivot Point: 4536

R1: 4618, R2: 4664, R3: 4747

S1: 4490, S2: 4407, S3: 4361

Results today: Indiabulls Real Estate, Fame India

Indian ADRs: Satyam down 15%, ICICI Bank up 7%, MTNL up 4%, Infosys up 1%

On the global front: Wall Street ends higher; Dow up 75 points & Asia trading firm; Nikkei, Straits Times up. The US markets advanced on Thursday as a report showed jobless claims fell last week and banks gained. The S&P financial index finished up 3.5 percent, after RBC capital markets upgraded its rating on the sector, saying it's on track for a multi-year bull market. In economic news, initial jobless claims fell by 4,000 last week. Continuing claims fell to 6.73 million. It's the first time that it has declined since early January, following 17 straight weeks of record highs. Meanwhile, non-farm productivity rose 1.6% in the first quarter, higher than the initial estimate of 0.8% and the 0.6% drop in the fourth quarter. The Dow Jones Industrial Average gained 74.96 points, or 0.9%, to 8,750.24. The S&P 500 index rose 10.70 points, or 1.2%, to 942.46, and the NASDAQ Composite rose 24.10 points, or 1.3%, to 1,850.02.

Stocks in action for the day: I'bulls Sec, Dewan Hsg, Indage, Suzlon

SEBI says: -Ketan Parekh still active in market -Funds originating from Parekh used by linked clients to deal in market -Restrains 26 entities from dealing in securities till further orders -Connected clients active in Cals, Confidence, Bang, SPSL and TFL

Multiplex War: Sources: -All Multiplexes have signed a princple agreement with the Producers -Distribution strategy to be decided by producers -Multiplexes to share revenues in ratio of 50:42.5:37.5 for first 3 weeks

Dewan Housing board approves -Raising up to Rs 300 crore via QIB -Preferential issue of 1 crore shares to promoters

Indage Vintners -Board meet on June 09 to consider ADR / GDR / FCCB / warrants issue -Denies reports co in talks with Asahi Breweries, Ravi Jain for stake sale

Indiabulls Securities -SEBI warns Indiabulls Securities to abide by laws, rules of securities market -SEBI says company violated KYC Norms of SEBI circular, 2004

MCX Stock Exchange: -Sells 6.48% stake to Union Bank, Bank Of India for Rs 87.5 crore -To sell 11.52% more stake to banks

RIL temporarily halts exports of petrol to Iran under pressure from US: Reports

Aban Offshore ask banks to recast debt

CLB upholds Bhushan Steel’s warrant conversion

Suzlon faces rough weather over Pune Wind Park, locals asking for more money for land acquired by company

Nitin Fire Protection board approves QIP / FCCB / GDR / preferential issue up to $50 m

Trading in Jaypee Hotels to be suspended from today ((amalgamation with JP Associates))

F&O cues: Futures Open Int up by Rs 2084 cr

Stock Futures add 7 cr shares in Open Int; have added 23 cr shares since beginning of series

Futures Open Int up by Rs 2,084 crore, Options Open Int up by Rs 993 crore

Nifty Futures add 10 lakh shares in Open Int, at 10-point premium

Nifty Open Int PCR at 1.05 versus 1.03

Nifty Puts add 10 lakh; Calls add 3 lakh shares in Open Int

Nifty 4500 Put adds 3 lakh shares in Open Int