BOR: Market outlook: Indian Markets may have flat to positive opening today the back of firm global movement.

Market outlook: Indian Markets may have flat to positive opening today the back of firm global movement. Nifty has supports at 4500-4550 and resistances are at 4750-4800. Market may remain ranged bound. Overall outlook for the markets today is that of guarded optimism as the overseas cues and follow up buying will determine the fresh upsides. Being a weekend session, bulls may not initiate large scale overnight long positions.

Nifty Outlook: Pivot Point: 4634

R1: 4682, R2: 4727, R3: 4776

S1: 4589, S2: 4541, S3: 4496

Results today: Indian Hotels, GAIL, SREI Infra

Indian ADRs: Satyam down 13% ((up over 30% each in last 2 days)), MTNL up 7%, HDFC Bank down 2%

On the global face Wall Street ends with moderate gain; Dow up 32 pts & Asian markets trading firm; Hang Seng, Nikkei up The US markets closed flat yet again, well off their earlier highs. Energy stocks got a boost after crude topped USD 73 a barrel. Wall Street got an early boost from the pre-market economic reports, which showed jobless claims fell last week and retail sales ticked higher in may. And some encouraging economic data lifted the sentiment on Wall Street yesterday initial claims for unemployment benefits fell by 24,000 last week to 601,000, a much sharper drop than expected. Retail sales also shot up 0.5% in May, marking the first gain in three months, boosted by rising gasoline prices. The Dow gained 31.90 points, or 0.4%, to 8,770.92. The S&P 500 added 5.74 points, or 0.6%, to 944.89. The NASDAQ Composite Index was up 9.29 points, or 0.5%, to 1,862.37.

Stocks in action for the day: Sesa Goa, JP Asso, L&T, Satyam

· Satyam Update: -Board sends letter to investors as per SEC requirement -Board express no opinion on open offer; remains neutral -Board says offering support to open offer tantamounts to shareholders selling -Announces virtual pool program to manage surplus staff Tech Mahindra open offer for Satyam opens today, closes July 1; offer @ at Rs 58/sh ((CMP Rs 80.85))

· Sesa Goa: -Acquires Dempo Group’s mining assets for Rs 1,750 crore in all cash deal
-Assets include mining leases, mining rights, & related infra in Goa -To fund deal entirely from internal resources

· JP Associates: Today is record date for amalgamation of Jaypee Hotels, Jaypee Cements, JP Enterprise and Gujarat Anjan Cement ((IMP as treasury stock of 19 crore shares created through this amalgamation can be sold post that, according to sources 6-7 crore shares will be on the block post 15th June))

· Exclusive: L&T & EADS -To set up 51:49 JV for defence R&D & engineering: sources
-JV for downstream investments in defence equipment manufacturing: Sources Proposed JV to test new FDI norms for defence: Sources -EADS to hold near 24% in subsidiary; balance with L&T: Sources -Alert: 26% FDI permitted in defence sector; L&T says no comment L&T likely to dispose more non core units

· SEBI notifies delisting regulations: SEBI says: -Makes changes to threshold limits post delisting offer -Post open offer, promoter holding crosses 90% of domestic equity
-If promoter stake post offer ups by 50% of pre-offer holding

· Everonn Systems 09 Consolidated: -Net sales at Rs 144.69 crore versus Rs 91.64 crore -Net Profit at Rs 22.08 crore versus Rs 13.81 crore

· EIL Q4 Standalone: -Net Sales at Rs 407.55 crore versus Rs 242.82 crore -Net Profit at Rs 158.82 crore versus Rs 56.68 crore

Anil Ambani to part-repay early $850 million loan creditors claim is in technical default.
ONGC says to borrow Rs 27,000 crore in 3-4 years to fund own, subsidiaries' projects
Suzlon says laid off 160 employees of total 340 at Suzlon Rotor Corp in Minnesota
Orissa Sponge seeks more time to convert Bhushan Steel’s warrants
Indiabulls ties up Rs 5,166 crore for power plant
Jubilant ties up with US-based Endo Pharmaceuticals for drug development

· Board meets: GEI Industrial on fund raisingEx-dividend: HUL @ Rs 4 Alok Industries comes out of NSE F&O curbTrading in Madras Aluminium to be suspended from today ((delisting))

F&O cues: Futures Open Int up by Rs 196 cr

Futures Open Int up by Rs 196 crore, Options Open Int up Rs 1202 crore

Nifty June Futures shed 7.4 lakh, July Futures add 3.6 lakh shrs in Open Int

Nifty June at 5-pt premium, Futures Open Int down 1%

Nifty Open Int Put Call Ratio at 1.17 versus 1.18

Nifty Puts add 8.6 lakh, Calls add 10.06 lakh shares in Open Int

Nifty 4600 Put adds 5 lakh shares in Open Int

Nifty 4700 Call adds 4.94 lakh shares in Open Int

Nifty 5000 Call adds 2 lakh shares in Open Int

Stock Futures add 3.72 cr shares in Open Int