TECHOUTLOOK : Support for Nifty is at 4980 resistance at 5050.

Market Outlook: Indian markets are expected to open positive backed by positive Asian markets which rose on hopes that warning of credit rating downgrades by S&P will push European leaders into coming up with a convincing plan later this week at the summit.

Global Markets: The US markets finished positive after it was reported that European leaders would discuss boosting the firepower of the euro zone bailout fund.

Global events to watch:

• U.S. consumer credit for October
• U.S weekly mortgage applications

Global indices Update @ 8:

Dow Jones : 12150 (+52.30)

NASDAQ : 2649 (-06.20)

Nikkei 225 : 8649 (+74.47)

Hang Seng : 19106 (+164.7)

SGX CNX Nifty : 5059 (+27.00)

Gold (USD/t oz.) : 1733

Nymex Crude (F) : 101.45

INR / 1 USD : 51.39

TECHOUTLOOK : Support for Nifty is at 4980 resistance at 5050.

Call for the day:

Buy Cairn India SL 315 Target 330.

Sell Coal India SL 338 Target 320.

Stocks in action for the day: RIL, IndusInd Bank, DLF, Future Capital.

DHFL Chmn Says: Looking To Raise Rs 500 Cr For DHFL Open To PE Funding, QIP, Rights Issue To Raise Funds Looking To Enter Life As Well As General Insurance Sector In Talks With Prospective Partner For Insurance Foray Eyeing Financial Services Sector As Well Expect FDI Retail Logjam To Resolve Soon FDI In Retail Sector Will Open Newer Avenues For Us
DHFL's Fund Mgmt Arm To Raise `200 Cr For Arthveda Star Fund Fund Focussed On Targeting Mid-income Housing Projects Aim To Procure $1 Bn Assets Under Management In 2-3 Years
Fund Will Invest In Greenfield Residential Projects

Barclays India is likely to exit the retail business that includes mortgages, consumer loans and credit cards with a total asset size of around Rs.3,200 crore.

Government-owned banks have sought to wrest control of part of the cash flows of Kingfisher Airlines that is currently controlled by three of their private sector counterparts.

FM Go-ahead To Foreign Airlines Buying 26% Stake In Indian companies. DIPP Has Floated Draft Cabinet Note On FDI In Aviation.

Axis Bank Plans to Ramp up Retail Biz: Cashing in on rising credit demand from smaller cities, bank aims to increase share of retail loans to 30% from 21% now.

Mumbai-based Industrial Investment Trust ( IITL) has purchased Pantaloon's 26% stake in its insurance joint venture Future Generali Life for Rs 250-300 crore.

Bayer AG's healthcare unit settled trademark infringement cases with Indian drug maker Cipla and Vanuatu-based website operator Archipelago Suppliers concerning the German drug maker's pet products.

Hero MotoCorp Ltd has tied up with Muthoot Capital Services Ltd (MCSL), a division of Muthoot Pappachan Group, to offer instant ‘Need based Financial Services' for its two-wheeler customers.

The Government is in the advanced stages of finalising a ‘Mission Plan' for aluminium to enhance per capita consumption of the metal in India and facilitate better exploitation of bauxite and coal resources.

Drug firm Ranbaxy Laboratories launched a generic version of Caduet, used for treating cardio vascular diseases, in the US market, as part of an agreement with Pfizer

India has imposed antidumping duty on cheap imports of opal glassware from China and the United Arab Emirates for five years.

GAIL India has secured a $100 million loan from Bank of Tokyo-Mitsubishi UFJ to part-finance its pipeline expansion plans.

Praj Industries Ltd the Pune-based bio fuels technology developer and manufacturer of equipment for breweries and distilleries has announced a share buyback, slated to open on the stock exchanges from December 15.

Reliance Industries Ltd plans to offer high speed data services on attractively priced tablets by 2012-end, which will coincide with the worldwide deployment of an advanced technology that it plans to use, reports suggest.

Fertiliser makers have sought creation of a $20-billion sovereign fund to help support acquisition of overseas assets of minerals such as potash and phosphates.

RIL asks for 50% hike in price of fresh D6 gas; govt rules out price revision wants co to re-assess economics of the block (ET)

Indiabulls Real Estate : scheme of arrangement, investors to get 3 shares of power for 1 shares held in Ibull Real estate

Wipro to bring services ops under single unit to bring in greater automation

Govt rejects Coal India ’s demand for paring output target (Reports)

Indus Ind Bank may buy 3-5% stake in Aviva Life (BS)

No Hike in Subsidy on Imported DAP, MoP This Yr.

Govt Rejects CIL's Demand for Paring Output Target .

Cairn-Vedanta Deal Gets ONGC’s NOC, Finally.

Hindalco to invest Rs 25,700 cr more.

Retail FDI Decision on Hold: Pranab to Assure All-Party Meet Today

Govt Panel Suggests Resuming Mining in Western Ghats

EPF Rate may be Slashed to 8.25%.

Dhanlaxmi Bank in pact with LIC for e-payments.

Vedanta to Bid for Coal Blocks.

Biyani Sells Future Capital to Deccan Chronicle for 700cr.

DLF acquires Hilton’s 26% stake in hospitality JV (Reports)

F&O Ban: ABG Shipyard and RuchiSoya.