Stocks in action for the day: RIL, Oil India, Tata Power, IOC, Aventis.

Market Outlook: Indian markets are expected to open with a gap down response on the back of feebling sentiments on the global markets. On the global space The US markets came off their worst levels, but still finished sharply lower in heavy-volume trading as a grim outlook from the Federal Reserve coupled with ongoing economic jitters fueled fears of a recession. Dow Jones plunged 3.51%, to finish at 10,733, the index skid 528 points in its intraday low. Meanwhile gold too tumbles more than a percent after a rally in dollar on Fed's bond plan to bolster US economy.

Back to Indian Markets are following global cues, so we continue to hold a cautious outlook with support 4820 and resistance at 4950.

Global events to watch for today:

Þ William C. Dudley Speaks.

Þ John Williams Speaks.

Global indices Update @ 8:

Dow Jones : 10733 (-391.0)

NASDAQ : 2455 (-82.52)

Nikkei 225 : 8560 (-180.9)

Hang seng : 17522 (-389.5)

SGX CNX Nifty : 4874 (-34.50)

Gold (USD/t oz.) : 1747.7 (-06.00)

Nymex Crude (F) : 80.87 (-00.36)

INR / 1 USD : 48.82

TECHOUTLOOK : Support for the Nifty is at 4820 and resistance at 4950.

Stocks in action for the day: RIL, Oil India, Tata Power, IOC, Aventis.

RDB Rasayans IPO of 45 lakh shares with a price band of Rs 72-79/sh closes today QIBs: Nil NIIs: Nil RIIs: 0.23 times Overall: 0.08 times.

IMF says -Emerging markets not doing enough to boost demand -Seeing downside risks on the horizon -Path for recovery narrowing -Household, bank debt can choke recovery in advanced economies-Reducing deficits too fast could harm recovery -Need to trim US household debt, sovereign debt in Europe -Reform of financial sector remains a priority -Europe needs to boost bank capital buffers Financial reform delays fuelling lack of market confidence -World needs political leadership to secure recovery

RIL to review oil & gas strategy, may partner BP to drill abroad instead of bidding for new blocks in India (ET)

Oil India joins rush for Energy assets, to invest Rs 4000 crore in oil & gas blocks in Africa, Australia & latin America (ET)

Tata Power may run Mundra plant at low capacity to trim losses (ET)

Indian Oil to raise borrowing limits by Rs 30,000 crore (BS)

CAG begins conducting new audit of RIL to check whether exchequer incurred loss at companies KG block (Mint)

Aventis , Universal Medicare deal under I-T scanner (Mint)

Ex Dividend: Ucal Fuel Rs 4/sh

PG Electroplast to list on September 26

Crisil goes ex-stock split on September 28 - from Rs 10 to Re 1

F&O Ban: ABG Shipyard, Gitanjali Gems, IFCI