BOR: Market Outlook: Indian markets will have flat to negative opening on the back of weakness in the global sentiments and monsoon concerns still in.

Market Outlook: Indian markets will have flat to negative opening on the back of weakness in the global sentiments and monsoon concerns still linger. Equity benchmarks are poised at crucial levels, which could be breached if weakness persists. Nifty has supports at 3850-3900 and resistances are at 4100-4150. Weakness is expected to continue. Overall outlook for the markets today is that of caution as the bulls are on the ropes and maybe unable to manage a sustainable upthrust in the absolute near term.

Nifty Outlook: Pivot Level: 4036

R1: 4097, R2: 4190, R3: 4250

S1: 3943, S2: 3883, S2: 3790

Results today: Axis Bank, Motilal Oswal, Gammon Infra, Indowind Energy, ETC Networks, TVS Electronics, Era Infra

Indian ADRs: Infosys up 4%, Satyam, Wipro up 2%, Tata Motors down 2%, ICICI Bank, HDFC Bank down 1%

On the global front”: US mkts end flat; Dow down 36 pts, Nasdaq up 4 pts while Asian markets trading weak; Hang Seng, Nikkei down. The US markets closed flat. The Dow Jones and S&P 500 ended the session with modest losses. However, the NASDAQ finished with a slight gain. Crude ended below USD 60 per barrel. It was fourth straight week of losses on Wall Street. Stocks racked up their fourth straight down week as a Chevron's profit warning exacerbated earnings worries. The Dow Jones was down 36.65 points or 0.45% at 8146.52 and S&P down 3.55 points or 0.4% at 879.13. However, the NASDAQ closed up 3.48 points or 0.2% at 1756.03.

Stocks in action for the day: BHEL, Sun Pharma, Geojit, Sterlite, Era

BHEL: -In talks with Sheffield UK for tech transfer in JV (joint venture) -In casting & forging JV with Sheffield UK, to invest Rs 1,000 crore in JV -In talks with Areva & Bharat Forge for stake sale in JV

Sun Pharma: -In pact with Forest Lab to settle Escitalopram dispute -To get upfront payment, royalty from Lundbeck pact -To license out Escitalopram, Citalopram to Lundbeck

Infomedia Q1 YoY: -Revenue down 14% at Rs 19.18 crore versus Rs 22.25 crore
-EBITDA (earning before interest, tax, depreciation and amortisation) loss of Rs 5 crore versus Rs 4 crore -Net loss of Rs 10.7 crore versus net profit of Rs 13.26 lakh

Geojit Financial Q1 YoY: -Net sales up 61% Rs 70 crore versus Rs 43.50 crore
-Net Profit up 87% at Rs 13.25 crore versus Rs 7.1 crore

Mahindra Holidays to list on July 16, IPO issue price Rs 300 a share

Mahindra Satyam recalls 600 employees from virtual pool in last 2 weeks

Jet Airways fires 43 employees as part of cost restructuring exercise

Sterlite Energy plans to raise Rs 3000 crore via IPO – DNA (100% subsidiary of Sterlite)

Allcargo Global hunts for buys abroad

Bajaj Hindusthan comes out of NSE F&O curb

IL&FS Investment Managers board meet on July 15 on stock split

Board meets: Era Infra on QIP issue, increase in FII investment limit from 40% to 65%

1.6 Crore Dewan Housing shares to hit the market on July 13 ((QIP issue))

1 crore Emami shares to hit the market on July 13 ((QIP issue))

Ex-dividend: ITC @ Rs 3.70