Market Outlook: Indian markets are likely to be on the positive side on taking cues from the global markets.

Market Outlook: Indian markets are likely to be on the positive side on taking cues from the global markets.

Results Today: VST Ind, Piramal Life, Praj industries, Kajaria Ceramics, Andhra Paper, Transwarranty Finance

On the global space: The US markets closed higher but lost steam in the final hour of trading after a report that European banks may shrink to meet higher reserve targets and news that real Chinese copper demand may be lower than initially thought.

Asian markets trading firm; Hang Seng, Nikkei up

Back to Indian Markets are following global cues, so we continue to hold a cautious outlook with support 5000 and resistance at 5180.

Global events to watch for today

Þ Jobless Claims.

Þ International Trade.

Þ Bloomberg Consumer Comfort Index.

Global indices Update @ 8:

Dow Jones : 11518 (+102.5)

NASDAQ : 2604 (+21.70)

Nikkei 225 : 8839 (+100.2)

Hang seng : 18637 (+308.0)

SGX CNX Nifty : 5137 (+22.00)

Gold (USD/t oz.) : 1680 (+02.40)

Nymex Crude (F) : 84.99 (-00.58)

INR / 1 USD : 49.24

TECHOUTLOOK : Support for the Nifty is at 5000 and resistance at 5180.

Stocks in action for the day: Ashoka Buildcon, Strides, Bajaj Corp, DCB.

DCB Q2 (Good results; profits more than doubled; jump in margins and reduction in NPAs) -Net profit at Rs 13.32 crore versus Rs 4.8 crore (YoY) -NII at Rs 59 crore versus Rs 46.5 crore (YoY)

Automobile Corporation of Goa Q2FY12 (cr - crore, vs - versus) -Total income down 31% at Rs 75 cr vs Rs 109 cr -PAT down 19% at Rs 6.5 cr vs Rs 8 cr -Total expenditure down 32% at Rs 66 cr vs Rs 97 cr -EBITDA down 25% at Rs 9 cr vs Rs 12 cr -EBITDA margin at 12% vs 11%

Bajaj Corp Q2FY12 -Total income up 32% at Rs 107 cr vs Rs 81 cr -PAT up 93% at Rs 29 cr vs Rs 15 cr -Total expenditure up 36% at Rs 80 cr vs Rs 59 cr -EBITDA up 22% at Rs 27.5 cr vs Rs 22.5 cr -EBITDA margin at 25.7% vs 27.8%

RBI Governor says -We have to raise rates to combat inflation -Low interest rate regime will take some time -Exchange rate moved according to market forces -RBI intervenes only when there is volatility in forex market

Maruti Suzuki says -Maneser plant still occupied by striking workers -No production was carried out at Manesar plant today-Gurgaon plant produced 600 vehicles as vs 2,800 -No supply of diesel engines from Suzuki Powertrain since 3 days

Steel Ministry says -In favour of POSCO taking SAIL as partner for Odisha plant -SAIL to sign JV with POSCO for Bokaro unit in November -SAIL-POSCO JV plant to cost Rs 16,000 crore -POSCO keen to partner SAIL in Sindri project POSCO India says -Committed to India plans

Agnus Capital buys 7.43%, Pronomz Ventures buys 14.99% stake in Strides Arcolab at Rs 105/sh (CMP Rs 350/sh)

ONGC Videsh in pact for 25% share in Kazakh Satpayev oil block

Jet Airways signs a MoU with Vietnam Airlines for a strategic co-operation

NRB Bearings board approves scheme of arrangement between NRB bearings & NRB Industrial bearings

Ashoka Buildcon to dilute stake in arm & raise around Rs 737 crore for its upcoming projects (ET)

DoT asks TRAI to reconsider pricing for excess spectrum; breather for Idea , Bharti & vodafone (BS)

SBI may delay overseas fund –raising plans (BS)

Banking regulator plans to frame new rules for FCCBs; may require companies to set aside funds from profits for redemption of bonds (Mint)

F&O Ban: ABG Shipyard, Gitanjali Gems