BOR: Market Outlook: Indian markets may have flat positive opening today on the back of mixed cues from the global peers.

Market Outlook: Indian markets may have flat positive opening today on the back of mixed cues from the global peers. Nifty has supports at 4680-4700 and resistances are at 4880-4930. The markets is been in a correction mode for the past few sessions. Although they recovered a little towards the end of last week, the benchmark indices - Sensex and Nifty - are still down significantly from their peaks seen in the middle of last month. The valuations in certain sectors have become quite attractive from a long-term perspective. Investors with a long-term investment horizon should look at taking positions in the market now.

Global events to watch for today:

• 4-Week Bill Announcement
• 3-Month Bill Auction
• 6-Month Bill Auction
• 3-Yr Note Auction

Global indices Update @ 9:

Dow Jones : 10023 (+17.46)

Nasdaq : 2112 (+07.12)

Nikkei 225 : 9797 (+08.40)

Hang seng : 22069 (+239.8)

SGX CNX Nifty : 4808 (+11.0)

INR / 1 USD : 46.82

On the global counter: Wall St ends flat with positive bias; Crude down nearly 3% & Asia trading firm; Hang Seng, Straits Times up. The US markets ended flat with a positive bias after a rocky session as investors juggled a disappointing jobs report and some analyst upgrades. General Electric was the biggest gainer on the Dow, up 6.2%, after Oppenheimer and Bernstein raised their ratings on the stock to outperform. General Electric was the biggest gainer on the Dow, up 6.2%, after Oppenheimer and Bernstein raised their ratings on the stock to outperform.

Stocks in action for the day: Bajaj Hind, Jubiliant, RIL, DRL, SAIL

Government to wind down stimulus next year – Says PM

Lipitor Patent Pharmasia-: DRL (Dr Reddys Labs) asserts invalidity/ non-infringement of 3 patents -Patent challenge including 6 months Pediatric exclusivity -DRL seeks exclusivity between 2011-13 -DRL patent challenge may not affect Ranbaxy-Pfizer deal

SAIL: -SAIL FPO to come up for cabinet approval by month-end -Govt to offload 5% of its stake in SAIL Proceeds from equity issue to be used for modernisation plans -Borrowing for modernisation to the extent of Rs 25,000 crore -Steel prices & input cost to remain stable for next 3 months

UTI AMC signs agreement with T Rowe Price for 26% stake sale: -All 4 promoters to sell 6.5% stake each to T Rowe Price -Deal valued at 3.7% of AUM or Rs 739.27 crore based on October AUM -Deal values UTI AMC @ Rs 2,843.34 crore

SBI: -SBI has revised downwards the deposit rates by 25-50 bps in a few maturities effective from November 09, 2009. -SBI extends 8% home loan product till March 31, 2010

IT department objects to Vodafone’s tower business demerger into Indus: In Action: Idea, Bharti, Vodafone JV partners in Indus

Bajaj Hindusthan, Balrampur Chini deal not over yet, Bajaj seeking funds from ICICI & SBI Bank worth Rs 1500 crore, may also raise funds via NCD

RIL close to acquiring troubled petro major LyondellBasell

Jubiliant to exit non-core business by March 2010, to fetch company around Rs 150 crore

Birla rejig top deck at Novelis, ropes in Phil Martens as new COO

Emami to foray into Cement business, to invest Rs 1,750 crore in 3 years

Daiichi Sankyo moves SC over SAT order for open offer in Zenotech at Rs 160/share

ONGC may be allowed to sell C-series field gas at $4.75/mmbtu versus $5.5/mbtu

The Finance Ministry has imposed 20% safeguard duty on all soda ash imports from China:

Alkali Manufacturers’ Association of India (AMAI) — on behalf of Tata Chemicals Ltd, Gujarat Heavy Chemicals Ltd, Saurashtra Chemicals Ltd, DCW Ltd and Nirma Ltd — had filed the petition seeking a safeguard duty on soda ash imports from China.

Tata Motors to shut Pune plant for 3 days due to disruption of supply of auto parts

Kanoria Chemicals 25MW power plant shut for 2 months for repair and restoration

Sical logistics receives notice from the Tamil Nadu Commercial Tax Department to the extent of Rs 6 crore towards interest liability payable

Dhampur Sugar to declare strandalone and consolidated annual results today

IVR Prime board meet today to approve scheme of amalgamation of IVR Strategic Resources and Services Ltd and IVRCL Water Infrastructures Ltd with IVR Prime