bor: Market Outlook: Indian markets may have flat to positive opening today on account of mixed global cues.

Market Outlook: Indian markets may have flat to positive opening today on account of mixed global cues. Nifty has supports at 5000-5050 and resistances are at 5180-5230. The bullish trend for the session is likely at the 5140 levels and the bearish pivot at the 5075 levels. We expect markets to be on sideways trading with action seen on company specific news.

Global events to watch for today:

• Weekly Bill Settlement
• Chain Store Sales
• Monster Employment Index
• Jobless Claims
• Productivity and Costs
• 30-Yr Bond Announcement
• ISM Non-Mfg Index
• EIA Natural Gas Report
• Money Supply

Global indices Update @ 9:

Dow Jones : 10452 (-18.90)

Nasdaq : 2185 (+09.22)

Nikkei 225 : 9828 (+219.5)

Hang seng : 22452 (+162.5)

SGX CNX Nifty : 5143 (+27)

INR / 1 USD : 46.27

On the global counter: Wall St ends mixed; Gold hits record high above $1216/oz & Asia trading mixed; Nikkei up 2.2%, Shanghai Composite down. The US markets ended mixed with the Dow finishing slightly lower, as oil prices fell and investors worried about bank profits. Financials were the weakest link as investors worried that bank profits could be hit by new derivatives legislation being considered on Capitol Hill. Financials were the weakest link as investors worried that bank profits could be hit by new derivatives legislation being considered on Capitol Hill. Gold hit a record high above USD 1,216 an ounce as investors bet on higher prices, with funds lengthening positions on expectations for a fresh leg of dollar weakness and more central bank buying.

Stocks in action for the day: Great Off, Tulip Tele, Infy, Ashok Ley, REC, Maruti

Great Offshore Block Deal: Edelweiss buys 20 lakh shares at average Rs 577.90/share Edelweiss' buy likely to be a financing deal -Edelweiss' MTM loss of Rs 13.50 crore.

Tulip Telecom - IT Department compiling report on Tulip Telecom tax case IT Dept inquiring alleged tax evasion by Tulip Telecom -IT Dept in process of completing investigations -IT Dept has not yet finalised tax demand.

FM says: -No decision on banks consolidation yet If any decision is taken, parliament will be informed first.

IPO update: JSW Energy IPO opens on December 7, closes on December 9 Godrej Property IPO opens on December 9, closes on December 11

Maruti Suzuki gears up to defend 50% market share, plans big capex: Maruti Suzuki plans to increase its production capacity by up to 75% over the next five years in a bid to hold on to its 50% market share in the country’s lucrative passenger car market. Maruti will have a capacity to build one million cars by the end of this fiscal year when its second plant in Manesar is ready. This will be the biggest capital expenditure by Maruti Suzuki since its Rs 9,000-crore investment announced in 2006. The company has drawn up ambitious plans to defend its market share in the face of increasing competition in the country’s red-hot small car market, which accounts for close to 80% of all passenger vehicles sold here and is dominated by Maruti.

FPO proposals lift SAIL, REC in a weak market: Shares of SAIL and REC were among the notable gainers in Wednesday’s lacklustre session. Both stocks advanced, supported by strong volumes. Market watchers say the near trigger for both these stocks is the proposed follow-on public offering (FPO) towards the end of the current financial year. Shares of SAIL closed at Rs 210.20, up 3% over the previous close. Buzz is that the FPO is likely to be priced at Rs 230. Since the FPO can succeed only if priced at a discount to the spot price, the assumption is that the steel major’s price could cross Rs 230 shortly. But speculation about the FPO pricing is premature, considering that the issue is still a few months away.

Shiva Cement plans to raise up to Rs 80 crore: Rourkela-based Shiva Cement is raising nearly Rs 80 crore through bank loans to part finance its Rs 165-crore expansion plan which aims at nearly quadrupling capacity to 2.3 million tonne. The company would mobilise another Rs 85 crore to finance the expansion programme Of this, the company would raise Rs 50 crore through an equity instrument, while country’s largest cement maker ACC, which holds 14% stake in Shiva, would chip in around Rs 35 crore

Genus Power board meet on December 4 to approve convertible warrants to promoters (stock up 20%)

Uninor to announce launch of operations; initially in 8 circles; Alert: Uninor is a JV between Telenor & Unitech Wireless

ABG Shipyard, Bharati Shipyard’s open offers for Great Offshore open today

Ashok Leyland November total sales at 4,695 units versus 2,307 units (YoY)

Infosys CEO: To use part of $2.8 billion cash reserve for acquisitions

Still in NSE F&O curb: Kingfisher

1.66 crore QIP shares of Welspun Gujarat hit the market today

21.31 crore QIP shares of Hindalco available for trading today

Long wait for NANO leads to cancellations