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

Market Outlook: Indian markets will have flat to positive opening today on account of mixed global cues. The Nifty has support at 4500-4530 and resistance at 4650-4730. The market may remain weak for a few trading sessions.

Global Events to Watch:

• Chain Store Sales
• Monster Employment Index
• US Jobless Claims
• US 30-Yr Bond Announcement
• US- ISM Non-Mfg Index
• US- Money Supply

Global indices Update @ 9:

Dow Jones : 9280 (-30)

Nasdaq : 1967 (-1.82)

S&P 500 : 994 (-3.29)

Nikkei 225 : 10238 (-41.7)

Hang seng : 19697 (+175)

SGX CNX Nifty : 4593 (+16.5)

INR / 1 USD : 49.06

CRUDE OIL : 68.17 (+0.12)

Gold : 978.10 (+1.5)

On the global counter: US mkts slip on weak eco data; Dow ends down 30 pts while Asian mkts trading higher; Shanghai up 2%. The US markets fell for the fourth straight day on the back of some disappointing economic data. Stocks struggled to hold on to even the smallest gains and traded in a relatively narrow range. Driving the losses in the market was mainly news from the economic front. The ADP employment change report showed private employers cut 298,000 jobs in August. This was more than the 250,000 economists expected. Factory orders rose 1.3% in July. The pace was much slower than the 2.2% expected. But on an encouraging note, Federal Reserve policy makers said they are confident the recession is ending. They are therefore more comfortable slowing down their economic-recovery plan, according to minutes from their last meeting.

Stocks in action for the day: Tata Tea, Thermax, Provogue, Bharati Ship

Bharti-MTN deal update: -MTN, Bharti tie-up agreement likely by September 24:-MTN Bharti face no regulatory hurdles in India:-South Africa competition body not been approached on MTN-Bharti

Reliance Infratel --Reliance Infratel to file DRHP again for IPO -Reliance Infratel to look at private placement opportunity -Reliance Infratel IPO money to deleverage balance sheet -Reliance Infratel has debt of Rs 15,000 crore ((company is tower business subsidiary of Reliance Communication)) -Reliance Infratel, Aircel, TTSL in tower sharing pact -Reliance Infratel in tower sharing pact with Shyam Sistema

Globus Spirits IPO ((closed yesterday)) -Subscribed 1.5 times -QIB: 0.86x -HNI: 4.76x -Retail: 1x

Board meets:
Bharati Shipyard on issue of convertible warrants, shares
Madhucon Projects on stock split from Rs 2 to Re 1
Gremach Infra on raising debt
Comfort Intech on stock split

IL&FS backs out of stake buy in Tata Tea’s plantation business

Thermax bags orders worth Rs 155 crore

Provogue buy back up to Rs 50 crore at maximum Rs 100/share opens ((CMP Rs 62))

Uttam Sugar board meet on September 5 to revise terms of rights issue

Mathew Easow open offer at Rs 19/sh ((CMP Rs 16.09))

Hindustan Fluorocarbons to resume trading

MCX-SX: SEBI approves extension of divestment date till September 15, 2010

Indian ADRs: Tata Motors, Wipro down 2%, Satyam up 2%, HDFC Bank, ICICI Bank up 1%

Intraday Nifty Outlook: Pivot Point: 4603 R1: 4629.4, R2: 4650, R3: 4676 S1: 4582, S2: 4555, S3: 4534