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

Market Outlook: Indian markets may have flat positive opening today. Nifty has supports at 4980-5000 and resistances are at 5080-5140. Markets are expected to trade in a range within 4700-5200. Overall outlook for the markets today is that of guarded optimism as the bulls need to keep the Nifty above the 5020 levels to maintain the upward momentum.

GDP expands by 7.9% during Q2, beat all forecasts: India’s economy gave yet another indication of its rapidly improving health, prompting greater ambition from policymakers still chary of withdrawing the stimulus medicine responsible for the recovery. Gross domestic product (GDP) expanded by a surprisingly strong 7.9% during the July-September second quarter, its fastest pace in a year- and-a-half. The growth was driven largely by a pickup in manufacturing, increased government expenditure, robust investments and modest growth in farm output despite the drought, data released

Global events to watch for today:

• Motor Vehicle Sales.
• ICSC-Goldman Store Sales.
• Redbook.
• ISM Mfg Index.
• Construction Spending.
• Pending Home Sales Index.

Global indices Update @ 9:

Dow Jones : 10344 (+34.92)

Nasdaq : 2144 (+06.16)

Nikkei 225 : 9256 (-88.88)

Hang seng : 21817 (-04.45)

SGX CNX Nifty : 5042 (+19.5)

INR / 1 USD : 46.48

On the global counter: Wall Street ends with moderate gain; Dow up 35 points & Asian markets trading firm; Hang Seng, Straits Times up. The US markets pulled off a modest gain in late trade led by banks. This is after Dubai world said it would try to restructure about USD 26 billion of its debt. This helped contain worries about a possible default. Chip stocks also gained. But retailers finished lower. There was also some encouraging economic news for the US. The institute for supply management-Chicago reported its gauge of regional business activity rose to 56.1 in November from 54.2 in October. This was the strongest reading since August. The dollar fell as concerns about Dubai's debt problems eased and stronger-than-expected US regional business activity data eroded safe-haven demand for the greenback.

Stocks in action for the day: Aban, NTPC, Siemens, SBI, Areva T&D

Aban Offshore: Aban Offshore looking to list Singapore arm Aban Singapore -Aban to raise $400 million via IPO of Singapore arm early next year -Aban to dilute 10% stake in Aban Singapore -IPO proceeds to go for debt repayment Aban has over Rs 16,000 crore of debt on its books Aban recently raised Rs 700 crore via QIP

Areva - Global update: Alstom-Schneider team to acquire Areva's T&D Unit -Alstom-Schneider beat GE, Toshiba for Areva's T&D Unit -Likely to impact listed company Areva T&D in India

SBI : SBI to sell 1% in NSE & 5.9% stake in MCX SBI to bring down holding in NSE & MCX To 5% by Oct 2010 to comply with SEBI Norms

SEL Manufacturing on GDR (has approval for fund raising upto Rs 300 crore)

UTV Motion Pictures has sold TV rights of seven of its films even before their theatre release as part of a Rs 95-crore syndication deal.

Golden Tobacco: on open offer from Pramod Jain

Asian Electronics: to float 100% subsidiary & rights issue (draft approval of rights issue of one equity share for every two held, at a price of Rs 20)

Camlin Fine Chemicals to consider fund raising via rights issue

Siemens board approves merger of Siemens Healthcare with itself, 2 shares of Siemens for every 1 of Siemens Health

November auto sales numbers today

Govt scraps limit on refined sugar import till fiscal-end

Oil PSUs cut jet fuel prices by 1% from today

Aksh Optifibre board approves fund raising up to $8 million

Sun Group owned Sumangali Cable network (SCV) to enter broadband space in Tamil Nadu

Nestle board to meet on December 7th to consider acquisition of Specialty Food’s healthcare nutrition biz (FY09 revenue at Rs 28.8 crore)

Mater Multi-Tech resumes trading from today, no circuit filter

NTPC to buy 2 coal mines in Indonesia

Indian ADRs: Tata Motors up 4.4%, ICICI Bank up 2.2%, MTNL up 6.5%