BOR: Market Outlook: Indian stocks are likely to open on a higher note spurred by investor sentiment across global markets.

Market Outlook: Indian stocks are likely to open on a higher note spurred by investor sentiment across global markets. Nifty has supports at 5300-5310 and resistances are at 5400-5450. Some profit booking at higher level is expected. Mid cap will continue to outperform. Sensex may even scale the 18000 mark if the sentiment continue to remain upbeat.

Global Events to watch for today

• ICSC-Goldman Store Sales
• 4-Week Bill Auction
• 3-Yr Note Auction
• FOMC Minutes

Global indices Update @ 8:

Dow Jones : 10973 (+46.48)

NASDAQ : 2429 (+26.95)

Nikkei 225 : 11292 (- 46.47)

Hang seng : 21537 (+297.6)

SGX CNX Nifty : 5387 (+22.00)

INR / 1 USD : 44.73

Stocks in action for the day : Essar Oil, Spicejet, Religare, Unitech, OIL

Biocon Says:-Stake buy funded through internal accruals -Company will now provide manufacturing support for CIMAB -Continuously looking at acquisition opportunities.

Essar Group -Promoters undertake stake restructuring of group companies -Promoters to restructure stake in Essar Oil -Shareholding undertaken for clear ownership structures -Shareholding seen as precursor to group's global listing plans

Essar Oil -Promoters to undertake inter- se transfers between April 9-30

Essar Group -Similar exercise likely to be undertaken in other group companies -18.14% to be transferred to Essar Energy Holding, Essar Invst

Most expensive land deal -RBS to sell Mumbai residential property in costliest deal -RBS sells apartment in Samudra Mahal for Rs 37.25 crore -: 3300-3600 sq ft Samudra Mahal apartment in Worli, Central Mumbai -Apartment sale values property for about Rs 1.08 lakh/sq ft

Board meeting today

GM Breweries: audited financial results

Hilton Metal: consider the commencement of trading business

Shree Ashtavinayak: buyback of shares

Corporate Action

ARSS Infrastructure: Dividend at Rs 2/share

Wyeth: Dividend at Rs 20/share

Religare, Spicejet close to a deal, Malvinder Singh owned company likely to pick up majority stake, may offer Rs 70-75/share – DNA (CMP Rs 58)

Unitech Board meet today: to consider merger of subsidiaries, demerger and other forms of restructuring, or acquisition, or spin-off

OIL India readies USD 2.5 billion kitty for overseas acquisition

Religare Securities up stake to 5.12% in Fame from 0.7%

UB Engineering to tap infra projects for growth

Tighter FDA rules sour local drug companies’ American dream