BOR: Market Outlook: Indian markets may have flat to positive opening today on the back of positive momentum on the Asian counters.

Market Outlook: Indian markets may have flat to positive opening today on the back of positive momentum on the Asian counters. Nifty has supports at 4960-5000 and resistances are at 5120-5175.Overall the trend is still intact up but we are likely to see some selling near the 5100 mark and so it’s a cautious up hand.

Global events to watch for today:

· Bank Reserve Settlement

· MBA Purchase Applications

· Consumer Price Index

· Housing Starts data

· EIA Petroleum Status Report

Global indices Update @ 9:

Dow Jones : 10437 (+30.46)

Nasdaq : 2203 (+05.93)

Nikkei 225 : 9716 (-13.58)

Hang seng : 23052 (+138.4)

SGX CNX Nifty : 5086 (+29)

INR / 1 USD : 46.25

On the global counter: Wall Street ends flat; dollar rebounds from 15-month low & Asia trading higher; Shanghai Composite, Hang Seng up. The US markets ended flat with a positive bias after spending much of the day in the red. Microsoft led the Dow after several positive analyst comments including Morgan Stanley, which raised its price target but the retail sector took a hit today after weak outlook from home depot and target. In economic data from the US, producer prices rose 0.3% in October, with the core rate dropping 0.6%. And industrial production climbed 0.1% last month. This was less than the 0.4-percent gain expected.

Stocks in action for the day: Jet Airways, Electrosteel Castings RIL, Wockhardt, L&T, Jet Airways, Valecha

17 FDI proposals worth Rs 1,158 cr approved: The government yesterday approved 17 foreign direct investment (FDI) proposals worth Rs 1,158.78 crore. Among the major proposals which were approved are the FDI applications of the world's largest steelmaker ArcelorMittal and ductile iron pipe maker Electrosteel Castings.

ArcelorMittal, with an FDI of Rs 503.37 crore, plans to infuse foreign equity into a company engaged in manufacturing cold-rolled semi-finished iron and steel products.

The Kolkata-based Electrosteel Castings plans to issue and allot eligible securities including equity shares and/ or non-convertible debt instruments along with warrants on a private placement basis bringing in FDI worth Rs 600 crore.

The government referred the proposals of Jet Airways to bring in Rs 2,000 crore FDI and the Mauritius-based investment fund Indium IV to bring in Rs 2,500 crore FDI, to the Cabinet Committee on Economic Affairs (CCEA) as the proposals are of value above Rs 600 crore.

RIL bonus share issue record date November 27

Cox & Kings IPO opens today, closes November 20; price band at Rs 316-330/share: -Allots 2.7 million shares to anchor investors at Rs 330/share -Capital International, T Rowe, Reliance Capital among investors

Mahindra Satyam Got legal notice from 37 companies claiming refund of Rs 1,230.4 crore -Maytas Infra, Maytas Properties among companies claiming refund -Claims for refunds are legally untenable

FIPB: -Defers nod on EADS, Germany and L&T Defence Equipment JV -Alert: JV proposed manufacturing of arms & armaments

New Ground Handling Policy - CCS to discuss new ground handling policy next week -Alert: CCS is Cabinet Committee On Security -New Ground Handling Policy to be implemented on January 1 -Jet, Kingfisher Airlines may be forced to cut staff

Pfizer, Wockhardt brass may meet by month-end on acquisition: Mint ((Pfizer interested in buying part of Wockhardt's biz))

L&T sells petroleum dispensing business to US-based Gilbarco for Rs 200 crore

FIPB refers Jet’s fund raising proposal to CCEA ((Company looking to raise $400 million via QIP))

Jet-Sahara case to come up for directions in Bombay HC today

Tata Motors raises Rs 264 crore in new FD scheme

BSNL, Vavasi talks to buy Zain fall through, Vavasi to announce new partner in 1-2 weeks

Valecha Engineering bags orders worth Rs 110 crore