Stocks in action for the day: SBI, PNB, Glenmark, Coal India, Edelweiss.

Market Outlook: Indian Markets are expected to open higher tracking positive cues from Asian markets while investors will keep a close eye on earnings of leaders which would drive the market sentiments. Technically market is in selling mode and can slide down to around 5000 zones.



Results Today: ICICI Bank, PNB, NMDC, Siemens, Titan, Crompton Greaves, TVS Motors, Dabur Industries, IDBI Bank, Central Bank of India, Jagran Prakashan, Mahindra Holidays, Century Textiles, Shoppers Stop, Union Bank of India, Aban Offshore, City Union Bank, Delta Corp, PTC India, HCL Infosystem, Firstsource Soln, Subex, KEC International , Blue Dart, IPCA Labs, Financial Technologies, Berger Paints, DCM Shriram Consolidated, Usha Martin and Welspun Projects.



Global Markets: It was a show of resilience on Wall Street even as it closed flat. European markets closed sharply lower while Asia is in the green. The Dow reversed a triple digit decline towards the close even as all three indices ended in negative territory.



Global events to watch:



ü The Employment Cost Index is expected to rise to 0.4 % for the fourth quarter. Meanwhile the S&P Case Shiller Home Price Index is expected to contract by 0.4% while consumer confidence is expected to rise to 68.



Global indices Update @ 8:



Dow Jones : 12653 (-06.74)

NASDAQ : 2811 (-04.61)

Nikkei 225 : 8827 (+34.33)

Hang Seng : 20320 (+160.0)

SGX CNX Nifty : 5142 (+37.00)

Gold (USD/t oz.) : 1739

Nymex Crude (F) : 99.41

INR / 1 USD : 49.50



TECHOUTLOOK : Support for Nifty is at 5050 resistance at 5160.



Call for the day:



Buy Tata Global SL 94 Target 106-110.

Sell Crompton Greaves SL 136 Target 125.

Sell Glenmark SL 316-318 Target 300.



Stocks in action for the day: SBI, PNB, Glenmark, Coal India, Edelweiss.



Reliance Industries buyback will open tomorrow.



Mark-to-market forex losses affected pharma major Glenmark's third quarter performance. The net profit almost halved to Rs 86.5 crore. The EBITDA also took a hit, falling 23% YoY.



Essar Oil's wait to exit CDR has been delayed for a few more days. Lenders okayed the proposal but have failed to reach a consensus on compensation to lenders.



After several failed attempts, Starbucks announced its India entry. The company inked a 50-50 joint venture with Tata Global Beverages and outlined an initial investment of Rs 400 crore.



Power producers have sought the government's intervention to ensure cheaper coal for their use. At the recent meeting with the Prime Minister, power producers sought the removal of 5% customs duty and 5% CVD on imported coal. They also sought removal of the 26% profit share for coal mining, arguing that it will put an extra burden on coal prices.



SBI says it has the government's nod for further capital infusion. The government will infuse up to Rs 7,900 crore via preferential allotment share issue.



Punjab National Bank's board has approved the issue of preferential shares to the government and hopes to raise upto Rs 1,285 crore via the issue. The board expects to get shareholders nod on March 20.



3i Infotech's shareholders have approved raising funds via share issue.



Lupin gets the USFDA's tentative go ahead for the generic Glumetza.



The Economic Times reports that the Coal Ministry has rejected Reliance Powers Sasan mine mortgage plan.



BG will club the Mahanagar gas deal with Gujarat Gas stake sale, reports the Economic Times.



And the Times of India reports that Coal India has cut prices and the company's revenue may take a hit.



KNR Constructions receives two orders from GVK worth Rs 675 crore.



Electrotherm (India) board approves reference to CDR cell.