BOR: Market Outlook: Indian markets may have a positive opening today on account of strong global cues

Market Outlook: Indian markets may have a positive opening today on account of strong global cues as Wall St gains on encouraging economic data; Dow above 10K & Asian markets trading higher; Hang Seng, Nikkei up.. Nifty has supports at 4640-4685 and resistances are at 4870-4940. Overall outlook for the markets today is that of optimism as the bulls need to hold the Nifty above the 4715 mark. Positive overseas cues will help the bulls.

Global events to watch for today:

• Employment Situation
• Wholesale Trade data
• Consumer Credit

Global indices Update @ 9:

Dow Jones : 10005 (+203.8)

Nasdaq : 2055 (+49.80)

Nikkei 225 : 9827 (+110.4)

Hang seng : 21881 (+402.3)

SGX CNX Nifty : 4823.5 (+46.5)

INR / 1 USD : 47.13

On the global counter: Wall St gains on encouraging economic data; Dow above 10K & Asian markets trading higher; Hang Seng, Nikkei up. The US markets rallied on Thursday on the back of strong reading on productivity and an easing in jobless claims. Techs were among the best performers after Cisco posted strong results after the bell on Wednesday. Driving the gains in US markets was the day's economic news, non-farm productivity rose 9.5% in its preliminary report, the fastest pace in six years. The latest initial jobless claims total came in 512,000, down 20,000 from the previous week. Continuing claims came in at 5.75 million lower than the previous week.

Stocks in action for the day: GVK, L&T, Axis Bank, M&M, Patni

BIAL: -GVK to get 1 board seat on BIAL: -L&T had put 17% stake on block on October 20: -RoFR for L&T stake to end on November 20: RoFR is right of first refusal -GVK to look at L&T's BIAL stake post RoFR ends:-Zurich Airport to manage BIAL till May 2015: -BIAL has 515 acres of land around airport for commercial development

Axis Bank:: To offer home loans at 8% under special scheme -Special home loan scheme available till December 10

Sudha Murthy sells 20 L Infy shares for Rs 445 cr: Sudha Murthy, the better half of the first couple of India’s IT industry, has made her second big venture capital investment. Infosys’ shareholding pattern at the end of September showed Mr Murthy and his family owning a 4.97% stake in the company. His wife owned 1.62%, daughter Akshata 1.41% and son Rohan 1.39%.

Dolphin Offshore eyes mega deals: The shares of Mumbai-based Dolphin Offshore have significantly outperformed the market over the past one year logging a gain of 275% against Sensex’s 50%. The scrip, which was underperforming the market in the first four months of 2009, got a boost when the company announced a bonus issue in May 2009. It has consistently outperformed since then. Although, in the recent market weakness post-Diwali, the scrip has fallen more than the Sensex, it remains substantially above its year ago level.

Indiabulls Financial hikes stake in Suzlon to 6.38 pc: Wind energy major Suzlon today disclosed that financial services: major Indiabulls has hiked its stake in the company to 6.38 per cent, by way of acquisition of pledged shares. As per a disclosure about pledged shares filed by Suzlon Energy with the Bombay Stock Exchange, Indiabulls Financial Services stake in the wind turbine supplier has risen to 6.38 per cent over the past two days, from 4.59 per cent earlier.

Tata Tele to raise $ 250-mn to fund expansion plans: The company has already obtained shareholders' permission for raising $250-mn through FCCBs, which has not been exercised. The positive market response to the company's offerings in an extremely competitive and volatile market could require advancement of planned capital expenditure.

121.4 crore IOC bonus shares to hit market today

TRAI mulls fixing SMS termination charges

M&M to launch new motorcycle next year

Honda Motor to debut 110 cc mobike this fiscal

Patni promoters to take call on stake sale by January

Nalco hunts for Uranium mines in Namibia

PNB to cut deposit rates on some tenures by up to 50 bps from November 9

Bank Of Rajasthan cuts home loan rates to 7.50%

MphasiS board meet on November 24 on merger of 100% subsidiary MphasiS FinSolutions with itself

Kajaria Ceramics inks fuel supply pact with Gail, to save Rs 15 crore annually

Intel in talks with ITI for WiMax JV; ITI minority shareholder with 26% stake

Ex-dividend: HUL @ Rs 3