BOR: Market Outlook: Indian markets may have flat to positive opening today on account of positive global cues.

Market Outlook: Indian markets may have flat to positive opening today on account of positive global cues. Nifty has supports at 4700-4750 and resistances are at 4850-4900. Market may consolidate here.

Global Events to Watch:

• Bank Reserve Settlement
• MBA Purchase Applications
• ICSC-Goldman Store Sales
• Quarterly Services Survey
• 10-Yr Note Auction

Global indices Update @ 9:

Dow Jones : 9497 (+56.07)

Nasdaq : 2037 (+18.99)

S&P 500 : 1025 (+08.99)

Nikkei 225 : 10358 (-34.75)

Hang seng : 20938 (-131.50)

SGX CNX Nifty : 4804 (+5.5)

INR / 1 USD : 48.65

CRUDE OIL : 71.22 (+0.12)

Gold : 1002.80 (+4.90)

On the global counter: Wall Street ends with moderate gain; Crude above $ 71 while Asian markets trading lower; Hang Seng, Nikkei down. The US markets re-opened after a long break yesterday and closed higher as crude prices surged more than USD 3 a barrel and gold made a run at 1,000 dollars an ounce before pulling back. In precious metals, gold rose to an 18 month high the bullion surged as high as 1,009.70 dollar in trade yesterday, while silver climbed to a 13-month high on dollar weakness. Gold however came off those highs and settled below the 1000 dollar mark.

Stocks in action for the day : Bharti, GMR, FDC, Rel Infra, DLF, Aban

OIL INDIA LIMITED - Bid details

Qualified Institutional Buyers (QIBs): 2.5549

Non Institutional Investors: 0.0089

Retail Individual Investors (RIIs): 0.1373

Employee Reservation: 0.0671

Updated as on 08 SEP 2009 at 1700 hrs

Bharti-MTN: -Post equity deal, merger may take 3-5 years -JV to be fully operational by mid-2010 -MTN expects SingTel to waive off ROFR (right of first refusal) -MTN expects SingTel to agree to joint discussions -Alert: Bharti needs SingTel nod for certain pre-approved matters

Opto Circuits: -Raises Rs 400 crore via QIP @ (qualified institutional placement) Rs 187 ((CMP Rs 187)) -FIPB (foreign investment promotion board) defers company's proposal for preferential convertible warrants:

GMR Group : -GMR plans to list holding co; to raise Rs 7,500 crore over 3 years -Company to raise Rs 1,500 crore via listing energy arm -Company to list energy arm in the next 4-5 months -Will look at listing airport business in 2-3 years

Sugar body: -Cabinet to decide on levy sugar price this week -Levy quota to be doubled to 20% from October

Jet Airways: -Flight operations may stay shut today, pilots to stay on leave -Says nearly 40% of our pilots have reported sick

BPCL: -Rs 314 crore ATF dues from Kingfisher, stopped supply in February -Currently no plans to buy Cairn crude

Board meets:

-FDC on buy back

-Rei Agro, Impex Ferro on rights issue

Govt ask IFCI to rope in strategic investor for revival

MERC (Maharashtra Electricity Regulatory Commission) orders probe into Reliance Infra, the distribution arm of Reliance Power

Aban Offshore may lose contract for drill ship “Aban Abraham”

DLF says intend to pay all short-term debt without restructuring

10.43 crore Alok Industries shares to hit market ((conversion of rights issue to fully paid up))

Indian ADRs: Tata Motors up 9%, ICICI Bank up 7%, HDFC Bank, Satyam, Wipro up 3% ((factoring in gains of Monday as US market was closed))

Intraday Nifty Outlook: Pivot Point: 4810 R1: 4837, R2: 4869, R3: 4897 S1: 4777, S2: 4750, S3: 4718