BOR: Market Outlook: Indian markets may have flat to negative opening today on the back of mixed global cues.

Market Outlook: Indian markets may have flat to negative opening today on the back of mixed global cues. Nifty has supports at 4850-4900 and resistances are at 5050 -5100. Market may remain sideways and consolidate for a few trading sessions. Key Asian and European markets clocked losses on concerns that valuations have become expensive, after the six-month long rally. Shares in Hong Kong, Taiwan and South Korea ended marginally lower, while most markets in Europe were down around 1% or more.

Global events to watch for today:

• FHFA House Price Index
• ICSC-Goldman Store Sales
• 4-Week Bill Auction
• 52-Week Bill Auction
• 2-Yr Note Auction

Global indices Update @ 9:

Dow Jones : 9778 (-41.34)

Nasdaq : 2138 (+05.18)

S&P 500 : 1064 (-03.64)

Nikkei 225 : 10370 (-73.26)

Hang seng : 21554 (+71.30)

SGX CNX Nifty : 4967 (-15)

INR / 1 USD : 48.18

CRUDE OIL : 70.06 (+0.35)

Gold : 1003 (-0.50)

On the global counter: US markets end lower; crude slips more than 3% while Asian markets trading firm; Hang Seng, Seoul Composite up. The US stocks ended mostly lower as the dollar gained strength, dragging commodity and other stocks In the day's only economic data, leading indicators rose 0.6% in August, the fifth straight monthly gain and highest reading since January 2008. This came after a revised 0.9-percent gain in July and was slightly lower than the 0.7-percent uptick economists had expected.

Stocks in action for the day: Patni, RIL, IOC, ABG Ship, Bharti, Omnitech

Patni --General Atlantic explores options to exit Patni General Atlantic in talks with IBM, Apax Partners & Bain Cap General Atlantic holds 17% stake in Patni Patni denies stake sale by General Atlantic.

RIL: RIL eyeing to acquire part or whole of LyondellBasell LyondellBasell is Netherlands-Based bankrupt petchem company -Acquisition could entail cash payment of $3.25 billion to lenders LyondellBasell filed for Chapter 11 Bankruptcy in January LyondellBassel btained debtor in possession financing of $8.1 billion in February -LyondellBasell to come out with rights issue in October for additional liquidity -LyondellBasell had annual revenue of $50.7 billion in 2008 -LyondellBasell among world's largest Polymers, Petchem and Fuels companies -LyondellBasell $27 billion in assets, over $19 billion in debt at time of bankruptcy.

RIL Says -Treasury sale accretive; represents < style=""> good hydrocarbon prospects

Bharti-MTN Update:-September 27 likely date for MTN board meet: -Companies to set up joint entities for new market forays: -New markets for expansion include South America: -Bharti-MTN deal only likely after September 27: -Indicative agreement set to be signed post board meet: -Alert: Bharti to be vehicle for Asian expansion, MTN For Africa -MTN to seek 5 seats in 16 member Bharti board:-Dual listing being considered: Bharti-MTN Deal Update: -CCSA to be notified as deal may lead to change in control -Deal implementation needs to wait for final nod from CCSA : CCSA stands for competition commission of South Africa

Sterlite: -Offers to let Grupo Mexico out of Asarco penalty if company wins:-Says wouldn't hold Grupo liable for over $900 million w.r.t. SAB De CV: -Says Grupo will retain appeal rights & 'may end up paying nothing':

Oil Ministry: -Petroleum Ministry summons 6 companies for GSPA discussion today: -ONGC, NTPC, HPCL among cos to attend: -Non-Execution of GSPA with RIL for KG-D6 Gas on agenda:

Telecom Subscribers update: -Bharti Airtel net additions 2.81 million in August: -Idea Cellular net additions 1.54 million: -MTNL net additions 20,150: -Reliance net additions 1.66 m, inclusive CDMA & GSM:

Tebma Shipyards ICICI Venture fund looks to exit Tebma Shipyards Company in talks with ABG Shipyard to sell its 53% stake ICICI Venture invested Rs 100 crore for 53% stake in Tebma

BILT (Ballarpur Industries) Q4FY09 -Revenues - Rs 724.28 crore versus Rs 793.63 crore -Paper & Paper Product Revenues: Up 4.09% from Rs 681.6 crore to Rs 709.5 crore -EBIDTA: Rs 178.46 crore versus Rs 183.16 crore ((lower as sales of pulp dipped in Q4 due sluggish demand for rayon grade pulp)). BILT FY09 -Revenues: Rs 2,824.7 crore -EBIDTA: 24% versus 26% -Net Profit: Rs 187.9 crore versus Rs 303.6 crore -EPS: Rs 2.72 versus 4.76

IOC plans Rs 4,000 crore investment in pipelines to cut transportation cost

Jindal Cotex to list today, issue price at Rs 75 share

Thinksoft Global IPO opens today, offer of 36.5 lakh shares, price band Rs 120-130 per share

Euro Multivision IPO opens today, offer of 88 lakh shares, price band Rs 70-75 per share

NSE F&O: Kingfisher still in curb