BOR: Market Outlook: Indian markets will have negative opening today on account of weak global cues.

Market Outlook: Indian markets will have negative opening today on account of weak global cues. The Nifty has support at 5000-5050 and resistance at 5180-5220. We expect markets to be on sideways trading with action seen on company specific news.Overall outlook for the markets today is that of caution as the bulls need to hold the Nifty above the 5155 mark. Being a weekend session, buying enthusiasm maybe limited.

Global events to watch for today:

• Employment Situation
• Charles Plosser Speaks
• Factory Orders
• Treasury STRIPS

Global indices Update @ 9:

Dow Jones : 10366 (-86.53)

Nasdaq : 2173 (-11.89)

Nikkei 225 : 9980 (+2.95)

Hang seng : 22309 (-244.3)

SGX CNX Nifty : 5095 (-27)

INR / 1 USD : 46.22

On the global counter: Wall St drops on ISM services data, job worries & Asian mkts trades mixed; Shanghai, Hang Seng dip, Nikkei up. US stocks fell on Thursday after the vast U.S. services sector unexpectedly shrank in November and as nervousness rose a day before the monthly payrolls data. Stocks sold off going into the close, led by a slide in financials, as Bank of America Corp's massive equity offering spurred concerns that other banks could sell new shares and dilute existing shareholders' equity. The S&P financial index ended down 2.1 percent. On the data front, the services sector index fell to 48.7, indicating that this huge component of the U.S. economy had experienced contraction last month, according to a report from the Institute for Supply Management. The ISM data hurt sentiment a day before November's unemployment figures are released in an even more influential economic report.

Stocks in action for the day: L&T, Infy, Deccan Gold, NTPC, REC, SBI

ABG Shipyard open offer update: -SEBI may review takeover code post ABG Shipyard stake sale -SEBI may refer issues to Achuthan Panel -Stake sale by bidder ahead of offer opening unprecedented -Current takeover code silent on such stake sale

Fertilier Update: Govt says -Expect 30 mmscmd gas to fertiliser, power sectors soon -Each of 8 PSUs need Rs 3,000-5,000 crore for revival -Sick PSU units' revival linked with gas allocation

Bharti says TRAI must check predatory pricing – (Telenor yesterday announced 29 paise/minute rate)

Kingfisher out of NSE F&O curb

Reliance Media World to list today

Govt may table sugarcane price bill in parliament today:

Cabinet okays amendment in State Bank Of India act: Sources, Act amendment to allow cut in government stake in SBI to 51%:

REC files DRHP for follow-on public issue; to offer 171.73 million shares in FPO

NTPC gets 13-14 merchant bankers' bids for company's FPO

Deccan Gold appoints consultant to evaluate gold mining prospects in Karnataka (stock up 5%)

Speciality Paper board meet for 10:1 stock split

Infosys, Cognizant and UST Global wins $600 million Walmart deal

Turner to buy NDTV imagine (Turner to buy NDTV Networks’ entire 72.5% holding)

Emami may join the race to acquire UK’s Simple (Marico already in the race)

AP Paper Mills plans rights issue, awaiting SEBI nod, plans to raise Rs 35 crore, fund raised will be used to retire debt(Co says demand for both coated and uncoated paper is growing significantly)

L&T awaits SEBI nod to buyout Chola DBS MF