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

Market Outlook: Indian markets will have positive opening today on account of strong global cues. Nifty has support at 5160 and resistances are at 5300-5350. Overall market trend is intact up but looks like the momentum sees to be sluggish and so the crucial level to watch would be 5150’. The market unfolded as expected managing to stay above the 5150 mark. Technically, the trend is still intact up and as long as 5150 holds. Stock specific action to be in markets as we are near to results season, for the day we like karuthi Global, Videocon & Whirlpool.

Global events to watch for today:

• Motor Vehicle Sales
• ICSC-Goldman Store Sales
• Factory Orders
• Pending Home Sales Index
• 4-Week Bill Auction

Global indices Update @ 8:

Dow Jones : 10583 (+155.91)

Nasdaq : 2308 (+39.27)

Nikkei 225 : 10756 (+101.63)

Hang seng : 22005 (+181.80)

SGX CNX Nifty : 5290 (+47.00)

INR / 1 USD : 46.51

On the global counter: Wall St gains on positive mfg data; Dow hits 15-mth high and Asia trading higher; Hang Seng, Nikkei up. Stocks rallied to their highest levels in over a year on this first trading day of 2010 after a report that showed growth in the manufacturing sector, the dollar's pullback and an upgrade on Intel. Alcoa, Bank of America and Pfizer were the top gainers on Dow. Intel advanced after Baird raised its rating on the stock to "outperform" from "neutral." The key economic data which led the up move in US markets yesterday - the ISM's gauge of manufacturing showed growth for a fifth straight month, rising to 55.9 in December from 53.6 in November. Participants shrugged off the two-month old construction spending data that showed a slightly steeper-than-expected 0.6% monthly decline for November. All three benchmark indices hit 15 month highs. The Dow Jones Industrial Average gained 155.91 points, or 1.5%, to 10,583.96. The Standard & Poor's 500 index added 17.89 points, or 1.6%, to 1,132.99, while the Nasdaq Composite Index rose 39.27 points, or 1.7%, to 2,308.42.

Stock in action for the day: BHEL, JSPL, Ambuja Cem, Suzlon, Cipla

Results today: Prism Cement

Dr Reddys Labs: -Announces results of phase III trial of Balaglitazone -Result indicate primary endpoint of HbA1c reduction Balaglitazone is drug used for treatment of type II Diabetes -DRL working with RheoScience in drug development

Cipla: -Cipla in talks with GSK, Teva for supplying generic drugs -Cipla Chairman says company in talks with GSK Pharma & Teva to supply generic drugs:

Titan to triple topline in five years: India’s biggest watch and jewellery retailer, Titan Industries, is looking to triple its topline from Rs 4,600 crore this fiscal to Rs 14,000 crore over the next five years. Bangalore-based watch and jewellery arm of the Tata Group, which did not alter its expansion plans during recession, plans to strengthen its presence in the wedding jewellery market and divert focus to smaller international watch markets such as Vietnam, Oman and Qatar.

Marico acquires Malaysian hair care brand Code 10 from Colgate: Marico, makers of Parachute hair oil and Saffola edible oil, said on Monday it has bought Colgate Palmolive’s hair care brand Code 10 for an undisclosed sum, as it pushes for revenue growth in the South-East Asian markets and strengthens its position to fight future competition in India.

Whirlpool riding on robust figures: The stock of Whirlpool India has emerged as one of the best-performing stocks in the consumer durables segment for 2009. Against an average gain of 75% of Sensex, the company’s stock has more than quadrupled in 2009. While Whirlpool is a household brand in India in white goods segment, the company’s financial performance always left much to be desired. It finally came out of the woods in FY09 and reported over 50% growth in net profit in the past year. With the latest run in the price, the stock is trading near its 15-year high. The P/E ratio is near 18, a bit higher than its average in 2008-09 and it’s no more a value buy. Its future trajectory will depend on its growth plans in the next two quarters, besides the impact of the rising metal prices on its margins.

Anand Mahindra Says: Commercial vehicle market clearly in upswing -M&M-Navistar JV will cater to export markets as well -Not averse to inorganic growth in 2-wheeler space

Government to take stricter stand against high emitting sub-critical power plants, may deny fuel linkages, BHEL could be hit

Zylog Systems board meet on January 9 to consider acquisition of a company in Canada

M&M launches trucks through JV with US Navistar

Jindal Steel and Power (JSPL) raises Rocklands offer by 18% to match Chinese Company’s offer, values Australian miner at $197m

Godrej Properties lists today, issue price at Rs 490

Suzlon in talks with WL Ross, BC Partners to raise upto $500m – Reports

Indian ADRs: Tata motors up 7%, MTNL up 7.5%, Sterlite up 6.1%

Ambuja Cements December cement sales at 1.73 mt versus 1.66 mt (YoY)

Shree Cements December cement sales at 8.6 lakh tonne versus 7 lakh tonne (YoY)