BOR: Market Outlook: Expect Indian markets to open flat in positive today

Market Outlook: Expect Indian markets to open flat in positive today on the back of mixed global cues. 4980 being the 200-day DMA is expected to act as a good support level in the near term. The long-term support for the market stands at 4675 and is a crucial level for investors looking at long-term investments. The market seems to be a bit jittery as of now and investors should wait for some more consolidation before taking any fresh positions.

Results Today: Grasim Inds ,Jet Air, Karur Vysya Bank ,Shree Cement, TTK Healthcare , Wockhardt

Global Events to watch for today:

• Jobless Claims
• Leading Indicators

Global indices Update @ 8:

Dow Jones : 10444 (- 66.58)

NASDAQ : 2292 (- 18.89)

Nikkei 225 : 10113 (- 73.34)

Hang seng : 19686 (+109.1)

SGX CNX Nifty : 4950 (+25.00)

INR / 1 USD : 46.00

Stocks in action for the day : Everest Kanto, ICICI Bank, JSPL

SJVN lists today

SPARC to disclose information about its New Chemical Entity (NCE) and Novel Drug Delivery System (NDDS) research projects today

Cabinet okays raising regulated gas price to $4.2/mmbtu

Gas price hike Govt to get Rs 3,500 cr/year more from APM gas price hike New APM gas price equivalent to D6 price of $4.2/mmBtu: Official New regulated gas price valid till March 31, 2014: Official CNG prices to rise on APM gas rate hike: Official Power tariff to rise 2.75% on APM gas rate hike: Official Fertiliser prices unlikely to rise on APM gas rate hike: Official CNG price may rise by 20% on APM gas price hike: Official APM gas rate hike to up OIL income by Rs 700-800 cr/year: Official IGL says will need to raise CNG prices on APM gas price hike

3G auction complete, Govt collects Rs 67,000 cr

3g Auction Bharti, Vodafone, Rel Comm bag Delhi licences Bharti: Rs 12,295 cr for 13 circles incl Delhi, Mumbai Vodafone: Rs 11,67 cr for 9 circles including Delhi, Mumbai Rel Comm: Rs 8.585 cr for 13 circles including Delhi, Mumbai Idea: Rs 5,864 cr for 9 circles

Pidilite Industries Q4 Sales at Rs.445.8cr vs Rs.380.4cr PAT at Rs.54.9cr vs Rs.67.5cr

Amara Raja Q4 Sales at Rs.432cr vs Rs.327cr ( up 32% YoY) PAT at Rs.36.7cr vs Rs.28cr ( up 31 % YoY)

Everest Kanto to make preferential allotment of 60 lakh (6% stake) shares to Reliance AMC @ Rs.135/shr

ICICI Bank: Mulls board meet on 23 May to consider due diligence report in connection to BOR Merger

Grasim to be replaced by JSPL in Sensex w.e.f May 26 (due to restructuring in Grasim)

Avantha buys US firm Pyramid Health for $20m

Amulya Leasing open offer at Rs 28/sh

Vishal Retail can not sell assets for 6 month says HC – Mint