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

Market Outlook: Indian markets will have positive opening today on account of good global cues. Nifty has supports at 4580-4650 and resistances are at 4760-4800. We think the upmove will be a function of global liquidity & back home some relief on the monsoon front, which is a good progress & may lead to keep markets up then that could be an important driver or a determinant for the markets to this time cross 4,700 decisively.

Global Events to Watch:

· US Holiday: Labor Day

Global indices Update @ 9:

Dow Jones : 9441 (+96.66)

Nasdaq : 2018 (+35.58)

S&P 500 : 1016 (+13.16)

Nikkei 225 : 10290 (+103.67)

Hang seng : 20603 (+284)

SGX CNX Nifty : 4710 (+17.5)

INR / 1 USD : 48.89

CRUDE OIL : 68.08 (+0.06)

Gold : 991 (-3.90)

On the global counter: Wall Street ends higher; Dow up 97 points & Asian markets trading firm; Shanghai, Hang Seng up. It was green on the screen for the US markets, after a mixed jobs report. Though over the week the S&P 500 Index shed over a percent. US equities rallied as technology stocks advanced following encouraging comments from Intel's CEO. The latest jobs report showed the unemployment rate jumped to a 26-year high of 9.7% even as layoffs seemed to be tapering off. The report showed that 216,000 non-farm payrolls were slashed in August that marked the lowest job loss tally in one-year.

Stocks in action for the day: Uttam Galva, Peninsula, IDFC, JMC Projects

Oil India IPO opens today, closes on September 10; offer of 2.64 cr shares, price band Rs 950-1050

Uttam Galva ((CMP Rs 114)): -Promoters sell 5.6% to ArcelorMittal -ArcelorMittal open offer at Rs 120/share for 29.4% stake -Open offer opens on October 31, closes on November 19 -Transaction valued at Rs 500 crore for 35% stake -Company valued at Rs 2800 crore at Rs 120/share -If open offer successful, ArcelorMittal will hold 35% -If open offer successful, company promoters will hold 40% -ArcelorMittal to buy stake from promoters if open offer undersubscribed -Funds from transaction go to shareholders; not company

Ackruti City: -QIP closes, company raises Rs 300 crore: -QIP priced at Rs 501/share: To use proceeds to repay debt, for expansion

NTPC: -Says Moved SC against HC order allowing RIL to amend petition -Prays Bombay HC order to be set aside: Srcs -Alert: RIL amended petition to include EGoM policy on pricing, allocation -Operations at 2 plants disrupted by coal shortage:

IOC: -IOC board meet on September 13 to consider bonus issue-IOC calls off JV with Tata Power to set up 1000 MW coal based captive power project.

Dish TV opposes FDI hike in DTH: The government’s move to revive an earlier proposal to hike foreign investment ceiling in direct-to-home (DTH) distribution of telecast signals from the current 49% to 74% has attracted opposition from the industry. Essel Group-owned Dish TV has written to the government, opposing the move on the ground of national security, international practice and potential unfair competition from foreign media giants.

Apollo Hospitals promise higher returns than Fortis: Fortis Healthcare has emerged as the fastestgrowing private hospital chain in the country after it agreed to buy 10 properties of Wockhardt Hospitals last fortnight. The second-largest private healthcare provider in the country now plans to float Rs 1,000-crore rights issue to partfund its Rs 909-crore acquisition.

Infy, Wipro eye Morgan Stanley's Indian back-office ops: Morgan Stanley, one of the US banks bailed out by the US government, is looking at exiting its back-office operations in India. The bank is exploring all options, including a part or full sale of its back-office unit that does IT development as well as finance and accounting-related work for the parent.

SBI reduces 1000 day deposit rates by 25 bps to 7% effective September 8

Jet Airways: Over 600 pilots to go on strike from today

RBI allows FIIs to buy up to 40% in Peninsula Land

Eicher August CV (commercial vehicle) sales up 33% at 2094 units (YoY)

SRF buy back not to open today ((price maximum Rs 160/share))

JMC Projects rights issue opens today, to issue 36.28 lakh shares at Rs 110, ratio 1:5 ((CMP Rs 184))

IDFC & Jaiprakash Associates to replace Nalco & Tata Communication in Nifty from October 20

Board meets: McNally Bharat on rights issue

Globus Spirits' IPO price fixed at Rs 100/share

Indian ADRs: ICICI Bank, HDFC Bank up 3%, Tata Motors up 2%, Infosys, Wipro up 1%

Intraday Nifty Outlook: Pivot Point: 4652 R1: 4725, R2: 4769, R3: 4841 S1: 4608, S2: 4535, S3: 4491