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. Nifty has supports at 4950-4980 and resistances are at 5070-5100. Overall outlook for the markets today is that of caution as the bulls need to hold the Nifty above the 5045 mark consistently. Being a weekend session, buying enthusiasm maybe calibrated.

Global events to watch for today:

• No major events to eye

Global indices Update @ 9:

Dow Jones : 10308 (-132.8)

Nasdaq : 2180 (-26.86)

Nikkei 225 : 10110 (-104.06)

Hang seng : 21162 (-222.6)

SGX CNX Nifty : 5002 (-30.00)

INR / 1 USD : 46.78

On the global counter: Wall Street declines as dollar gains; Gold slips 3% & Asia trading weak; Hang Seng, Nikkei, Straits Times down. The US markets declined as the dollar gained and jobless claims rose more than expected. Financials were among the hardest hit. Citigroup shares tumbled more than 6% while Bank Of America shares slipped almost 3% while Goldman and JP Morgan were down 2.5% and 4%, respectively. Driving some of the losses in the US markets was the jobless claims data, which unexpectedly rose 7,000 to a seasonally adjusted 4, 80,000. The Dow slipped 132.86 points, or 1.3%, to 10,308.26. The broader Standard & Poor's 500 index was dwon 13.10 points, or 1.2%, to 1,096.08, and the Nasdaq Composite Index fell 26.89 points, or 1.2%, to 2,180.05.

Stocks in action for the day: KRBL, Tata Motors, BoB, Maytas, Omaxe, DLF

DLF concall: -Most rental assets will be with DLF Cyber City -Promoters related parties; not involved in integration -All group rental assets come under DLF now -Deal eliminates all overlaps of interest -Deal creates a rental giant; strengthens DLF balance sheet -Integration allows 50% of income from rentals for DLF -Annualised rental income post integration to up by Rs 555 crore -Additional development potential of 11.83 million sq ft -Deal does not change position on Rs 2,800 crore receivables due -Same cap rates used to arrive at Cyber City & Caraf values

RNRL – Dadri case update: -UP government initiates repossession procedure for Dadri land Dadri land allotted to ADAG company power plant -UP Power Secretary asks land to be returned to farmers ready to return compensation

RIL-RNRL case update: RIL says -If 40 mmscmd sold at $2.34, will get return of 2.6% -Rate of return even lower than borrowing cost Selling at $2.34/mmbtu subsidy to RNRL will be $6.3 billion -Company borrowed $6 bn at average rate of 10% -At $2.34/mmBtu, net return is $1.8 on investment of $12 -At valuation of $4.2/mmbtu, total cost is $1.94/mmBtu -By selling 40 mmscmd at $2.34/mmbtu, profit $0.23 -Return of equity pre tax at 3.9%; post tax at 2.5% -Ind norm for equity return for similar project at 20%

Omaxe: -Income tax officials visit Omaxe offices -IT officials verifying tax related documents of Omaxe -Verification part of enquiry; no raids; operation underway

Maytas Infra : -Maytas Infra files motion for dismissal in US class action suits -Maytas Infra says US Courts have no jurisdiction over it

Board meet: Pipavav Shipyard on general business activity

Bright Bros buy back offer at maximum Rs 50/share

Sona Koya eyes acquisition in aerospace

Bank of Baroda: FIIs can purchase in open market

IFCI still in NSE F&O curb

Tata Motors Group global sales grew by 62% in November 2009 versus November 2008

No circuit filter for D-link India today

Aarey Drugs approves 2:1 rights issue at Rs 25 (cmp 44)

KRBL board approves 1:10 stock split

Indian ADRs: HDFC Bank down 4.7%, ICICI Bank down 3.5%