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

Market Outlook: Indian markets may open flat to positive opening today on account of mixed global cues. Nifty has supports at 4930-4950 and resistances are at 5050-5070.

Global events to watch for today:

• No major events to eye
• 4-Week Bill Announcement
• 3-Month Bill Auction
• 6-Month Bill Auction

Global indices Update @ 9:

Dow Jones : 10328 (+20.63)

Nasdaq : 2211 (+31.64)

Nikkei 225 : 10205 (+63.09)

Hang seng : 21073 (-102.69)

SGX CNX Nifty : 4988 (+4.50)

INR / 1 USD : 46.85

On the global counter: Wall Street ends higher; tech stocks push Nasdaq up 1.5% while Asian trading mixed; Hang Seng down, Nikkei up. The US markets ended with moderate gains on Friday. The Nasdaq, which consists mostly of technology stocks, rallied post better quarterly performance from Oracle and Research in Motion (RIM). The gains in Dow and S&P got curbed by rise in the dollar index. Technology stocks witnessed buying interest post the news. Oracle jumped 6.4% to USD 24.34; its Q2FY10 net profit went up 12.31% to USD 1.46 billion from USD 1.3 billion in the same quarter of previous year. Its sales increased to USD 5.9 billion from USD 5.6 billion YoY).

Stocks in action for the day: RIL, REC, Welspun, Prime Focus, ONGC, DRL

JSL CDR update: -Talks between JSL lenders & promoters inconclusive -Bankers want promoters to pledge entire 55% holding while promoters want to decrease pledge to 5-7% -Promoters want banks to fund 50- 75% debt in foreign currency JSL total exposure stands at Rs 7,000 crore

RIL – RNRL update -Arguments in RIL-RNRL D6 gas case conclude at SC (Supreme Court) Solicitor General Says: -Government property being used for mergers-demergers -EGoM (Empowered Group of Minister) decided pricing, allocation can't be challenged -Govt has been subject to trial by ambush -Surprised that RIL claimed RNRL allocated gas by EGoM -RIL no more than an agent for selling gas

MRF FY09 results today

IFCI still in NSE F&O curb

SEBI asks govt to mull action against RIL for allegedly routing funds to dummy cos for buying large quantity of its shares in 2000:

Telangana impact: KCR warns that illegal lands acquired by Dr Reddy's and IMAX will be confiscated once Telangana is formed

Lilly wins British drug patent case versus Dr Reddy's

REC FPO to hit markets in January-February 2010: Power Ministry

ONGC declares 2 gas finds, Rs 18 per share dividend

Bright Brothers open offer at Rs 50 (CMP 43)

Golden Tobacco board meet to consider development of properties

Indiabulls Financials, Societe General sever ties for life insurance JV – FE

Petroleum Ministry has asked Finance Ministry to give infra status to E&P, also extend subsidy of LPG and Kerosene beyond March 2010 – FE

Welspun to merge 3 investment firms to unlock value, raise funds – Mint

Prime Focus earned $18 million for providing visual effects in Avatar – BS

Indian ADR: Tata Communications up 6.4%

Asian Hotels: Demerger to unlock value for shareholders: Delhi-based Asian Hotels (AHL), one of the largest players in the hospitality business, has got its shareholders’ approval to demerge the company into three independent entities. The three undertakings will own one property each in Delhi, Mumbai and Kolkata.