1. China and Taiwan are poised to sign an agreement giving their banks

Wal-Mart Stores reported diluted earnings per share from continuing operations for the third quarter of fiscal year 2010 of $0.84, exceeding the company’s guidance of $0.78 to $0.82. (Source: CNNMoney). China and Taiwan are poised to sign an agreement giving their banks, insurers and brokerages wider access to each other’s markets as relations between the two adversaries are at their best in 60 years. (Source: Bloomberg). The federal deficit hit a record for October as the new budget year began where the old one ended: with the government awash in red ink. (Source: Yahoo Finance). The US Labor Department released its weekly report on initial jobless claims, which said there were 502,000 new filers last week. That's the lowest level since Jan. 3. Economists were expecting 510,000 claims. (Source: CNNMoney). President Obama said he will hold a jobs forum at the White House in December, as the country faces a 10.2% unemployment rate. (Source: CNNMoney).Industrial output grew by 9.1% in September 2009 compared to the corresponding period last year. (Source: ET). Despite falling by over 10% in the previous quarter, prices of cement are expected to soften further by Rs.7 per 50 kilo bag across the country on December 1, say industry executives who cited capacity glut and stagnant demand for the price fall. (Source :ET). A committee set up by the Government is examining whether four slots can be auctioned in all circles even if there is no spectrum available immediately. (Source: BL). Domestic Airlines witnessed 27% surge in passenger traffic in the month of October compared to the same period last year. (Source: BL). The Government has allowed duty-free raw sugar imports till January 2011. (Source: BL). Food Inflation for the week ended October 31 stood at 13.7%. (Source: ET). Infosys has acquired US-based BPO McCamish for USD38 million. (Source: ET).The Patni brothers are demanding higher premiums for their stake in Patni Computer Services that what is being sought by General Atlantic, the second-largest shareholder in the company. (Source: ET). L&T is likely to raise over Rs.300 crore by selling one-third of its stake in Mahindra Satyam by Friday. (Source: ET).
Tata Steel approved a proposal to exchange USD875 million for new convertible bonds that it says will reduce costs and lower repayment obligations. (Source: ET).22. Nifty: (4952): The index opened on a flat note and a saw profit taking. It ended the day with loss of 1.03%. The index encountered resistance around 5000 level and saw profit taking. Index faces resistance around 5000-5150 level; intra day rise will face resistance around this level. On the downside index has supportaround 4905, lower support is around 4850. Intra day dips should find support around 4905 levels. 28. Nifty Nov contract ends the Day down by 56.45 points at a marginal premium of 0.45 points in Nov contracts paring OI by 0.6% across all active Nifty contracts. Nifty Open Int PCR at 1.491 compared to 1.559 yesterday on back of paring of 4.55 Lakh Nifty puts and addition of 17.46 Lakh calls. Nifty put options addition was seen in 4800 Nov strike. Nifty p options addition was seen 5000 & 5100 Nov strikes. Nifty put option paring was seen in 4700, 4900 & 4600 Nov strike.