BOR: Market Outlook: Indian markets may have flat to positive opening today

Market Outlook: Indian markets may have flat to positive opening today on the back of positive cues from the asian markets. Nifty has supports at 4500-4530 and resistances are at 4700-4730. Overall outlook for the markets today is that of guarded optimism as the weekend factor may curtail the buying enthusiasm. The annual rate of inflation touched a 33-year low of -1.74% for the week ended August 1, but there was no respite for consumers as poor rains continued to cause prices of food articles to harden week after week.

Nifty Outlook: Pivot Point: 4559
R1: 4659, R2: 4714, R3: 4815
S1: 4504, S2: 4403, S3: 4348

Indian ADRs: ICICI Bank up 4%, HDFC Bank up 2%, Tata Motors up 3%, MTNL up 1%

On the global front: Wall Street ends with moderate gain & Asian markets trading firm; Nikkei, Taiwan up. The US markets pulled off modest gains in a late rally as investors cheered an encouraging business-inventories report, the latest sign that the recession may be winding down. Earlier in the session, unexpected economic growth out of Germany and France helped set a positive tone but rise in jobless claims dampened sentiment. And as we mentioned the day's economic news was a mixed bag, business inventories for June retreated more than expected. The Dow Jones industrial average gained 36.58 points, or 0.4%, to 9,398.19. The S&P 500 index added 6.92 points, or 0.7%, to 1,012.73, while the Nasdaq Composite Index rose 10.63 points, or 0.5%, to 2,009.35.

Stocks in action for the day: NTPC, Britannia, Sun Pharma, HDFC, Jai Mata Glass, Aegis Logistics

Monsoon update: Govt declares 177 districts in the country drought-hit. Met Dept says: Monsoon 56% below normal in week to August 12 Monsoon 29% below normal in June 1-August 12 period

Index changes from today:
Indiabulls Securities to replace Matrix Labs in S&P CNX 500 Index
JSW Steel to replace Matrix Labs in CNX Midcap Index
ICRA to replace Matrix in BSE-500 index
Matrix to be removed from BSE-Healthcare index
(Matrix to get delisted)

Oil Minister: PM forms 4-member panel to solve RIL-RNRL gas dispute

Govt sources say NTPC likely to file SLP in SC shortly

Britannia eyes buyouts, looks to raise Rs 2000 cr, to seek shareholder nod on Aug 31

AV Birla Nuvo in talks with PE players to sell stake in financial services arm

From Pharmasianews: Govt may allow controlled marketing of Oseltamivir

Sun Pharma to refile for US antitrust compliance for Taro offer

HDFC to give home loans of Rs 50 lakh at 9%

IndusInd Bank says current capital should suffice for 12-15 months of growth

Indraprastha Gas signs supply pact with RIL for gas from KG D6 block

Aegis Logistics buyback opens today, offer up to Rs 16.7 cr at max Rs 143/sh (CMP Rs 118)

IIFCL to raise $500m through UK subsidiary

Trading in Matrix to be suspended from today (delisting)

Gitanjali Gems buy back opens on Aug 19 (offer up to Rs 144 cr)

Jai Mata Glass resumes trading, no circuit filter today (after reduction of capital)

Board meets: Provogue India on buy back

1.42 cr Adhunik Metaliks shares to hit the market (conversion of warrants)

F&O cues: Total Futures Open Int up by Rs 1170 cr

Total Options Open Int up by Rs 895 crore
Nifty up 3.3%, Futures Open Int down 4%
Nifty August Fut trading at 6-pts prem versus 3-pt discount
Nifty IVs 34-37%
Nifty Open Int Put Call Ratio up from 0.92 to 1.03
Nifty Puts adds 30.5 lakh shares in Open Int
Nifty Calls shed 14.1 lakh shares
Nifty 4500 Put adds 9.9 lakh shares in Open Int
Nifty 4600 Put adds 6.4 lakh shares in Open Int
Nifty 4700 Call adds 3.7 lakh shares in Open Int
Nifty 4700 Put adds 3.1 lakh shares in Open Int
Nifty 4500 Call sheds 9 lakh shares in Open Int
Nifty 4600 Call sheds 3.2 lakh shares in Open Int
Stock Futures add 3.8 cr shares in Open Int