Stocks in action for the day: ONGC, Sun Pharma, TNPL, Ashok Leyland.

Market Outlook: Indian markets are expected to open with a negative note on the back of unconstructive sentiments on the global space. On the global space The House of Representatives on Monday approved a last-gasp deal to raise the US borrowing limit in a decisive step toward averting a catastrophic debt default by the world's largest economy. It signaled the end was in sight to a months-long partisan battle that had deadlocked the political system of the United States, alarming its international allies, shaking financial markets and diminishing the US global image. On the overall basis we are neutral on the global phenomena and expect Indian market trade with support seen near 5420 and any positive breakout would be expected only after 5550.

Results today: DLF, Power Grid, Oracle Financial Services, Elecon Engineering, Mahindra Forgings, United Breweries Holdings, Mc Dowell holdings, Cognizant, Titagarh Wagons, Gulf Oil Corp, Piramal Healthcare, Future Capital Holdings, Rushil décor, Whirlpool India, Berger Paints, Ashapura Minechem, DS Kulkarni developers, Eimco Elecon, Radico Khaitan, Monnet Ispat, Firstsource Solutions, Dhampur Sugar, Mangalore Chemicals & Fertilizers, Globus Spirits, Uniply Industries, Halonix

Global events to watch for:

Þ Motor Vehicle Sales.

Þ ICSC-Goldman Store Sales.

Þ Personal Income and Outlays.

Global indices Update @ 8:

Dow Jones : 12132 (-10.75)

NASDAQ : 2744 (-11.77)

Nikkei 225 : 9833 (-131.2)

Hang seng : 22534 (-128.7)

SGX CNX Nifty : 5483 (-45.00)

Gold (USD/t oz.) : 1623.8 (+02.10)

Nymex Crude (F) : 95.04 (+00.17)

INR / 1 USD : 44.04

TECHNICAL OUTLOOK: Not available for the day on the back of some technical error in the database.

Stocks in action for the day: ONGC, Sun Pharma, TNPL, Ashok Leyland.

Etisalat says : -Majestic Infra Con makes unconditional plea withdrawal -Welcome decision; in the best interest of Etisalat DB-Majestic Infra Con is a DB Group promoter co

DB Group: Sources -DB group withdraws Etisalat's company law board plea -Parties currently in talks towards a possible compromise -DB had alleged operational mismanagement by Etisalat -DB alleged delay in rollout of telecom operations by Etisalat

Suzlon says -Most turbine companies interested in indian markets -Will soon introduce REPower's equipment to India -Expect market share to cross 50% over next 5 years

TNPL (Tamil Nadu Newsprint and Papers) Q1 (cr - crore, vs - versus) -Net sales up 16% at Rs 336 cr vs Rs 290 cr -PAT down 68% at Rs 13 cr vs Rs 40 cr -EBITDA margin at 24.1% vs 27.6% -Along with higher total expenditure interest and finance charges were recorded up at Rs 32.5 cr vs Rs 8 cr pressurizing the PAT and margins

Andhra Petrochemical Q1FY12; -Net sales up 1.2 times at Rs 157 cr vs Rs 72 cr -PAT up 2.25 times at Rs 13 cr vs Rs 4 cr -EBITDA doubled at Rs 27 cr vs Rs 13 cr

Ferro Alloy Q1FY12 -Net sales down 12% at Rs 108 cr vs Rs 122 cr -PAT down 86% at Rs 3 cr vs Rs 22 cr -EBITDA down 76% at Rs 8 cr vs Rs 33 cr -EBITDA margin at 7.4% vs 27%

Ex-bonus today: Ashok Leyland (1:1)

Ex Dividend: Tata Power Rs 12.5/sh

F&O ban: Deccan Chronicle , Gitanjali Gems

JP Associates July cement sales at 1.45 mt versus 1.22 mt

Ambuja Cement July cement sales at 1.7 mt versus 1.5 mt (YoY)

Kotak Mahindra Bank to hike base rate by 25 bps w.e.f Tuesday, to hike deposit rates by 10-50 bps w.e.f Tuesday

Eicher Motors July total sales up 34% at 4,152 units (YoY)

Jyoti Structures has bagged orders worth Rs 438 crore from Vidyut Vitran co

Surana Industries board approves issue of 80 lakh shares at Rs 500/share

Shriram EPC wins an order to setup a 75 million litre diesel tank storage facility in Queensland Australia

Govt asks oil marketing companies to cut wasteful expenditure to cut costs & minimize the need to raise prices – ET

KEC International is looking to acquire engineering & construction company in USA with for USD 80 million – ET

Sun Pharma set to pick up an 11% stake in an Israeli investment company specializing in life sciences – BS

Lupin plans to acquire a large Latin American pharma company to with an undisclosed amount (Mint)

Finance Ministry mulls off-market deals for divestment in ONGC if FPO fails to take off – DNA

GVK likely to rope in a partner for furthering its plans for tapping the potential in oil & gas sector (DNA)

Aurobindo Pharma scouting for USD 100-200 million buyouts in the overseas markets of Europe & USA (DNA)

Sony to buy ETV channels for Rs 2600 crore with JM Financial set to get back the money invested in 2008 (DNA)