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

Market Outlook: Indian markets may have flat to positive opening today on the back of mixed global cues . Nifty has supports at 4800-4830 and resistances are at 5000-5040. Market may consolidate in a narrow range for a few trading sessions but the trend still seems to be intact up.

Global events to watch for today:

• US Holiday: Veterans Day

Global indices Update @ 9:

Dow Jones : 10246 (+20.03)

Nasdaq : 2151 (+02.98)

Nikkei 225 : 9892 (+21.56)

Hang seng : 22438 (+170.5)

SGX CNX Nifty : 4895 (+23)

INR / 1 USD : 46.53

On the global counter: Wall Street ends flat; S&P 500 in red after 6-day of gain & Asia trading mixed; Hang Seng up, Shanghai Composite flat. After Monday's spectacular rally, the US markets ended Tuesday session flat. Trading was light and choppy. Health-care, utilities and materials were the best-performing sector, while Bank of America was the top gainer on the Dow

Stocks in action for the day: KSK Energy, Sun Pharma, Pyramid Sai, REC

KSK Energy : -QIP opens, company plans to raise $100-125 million -QIP issue priced at Rs 196/share ((CMP Rs 198.6))

Sun Pharma: Drags Zydus Cadila to court for trademark violation -Gets Ex Partie injunction at Madras HC against Venz sale -Alert: Venz is Zydus' anti-depressant drug

Pyramid Saimira: -SEBI bars company from securities market for 7 years in IPO irregularity case

Board meets:

Simbhaoli Sugar results, fund raising

Cambridge Technology on Rs 25 crore QIP issue

RNRL files affidavit in SC against government role in gas row: NW18

Ministry of Power approves REC FPO of 17.17 crore shares ((20% of existing capital))

Government to tighten rules for FDI approvals, FIPB powers to be expanded

Jindal Steel matches $200 million offer for Rockland offered by China’s Meijin Energy

From Mint: Sources say Patni close to signing JPMorgan for closing acquisition deal

Ballarpur Industries subsidiary redeems debentures worth Rs 1,000 crore

Ex-split: Allied Digital from Rs 10 to Rs 5

Axis Mutual Fund launches its first equity fund: Axis Bank promoted Axis Mutual Fund has launched its first equity fund, Axis Equity Fund, a diversified scheme for investing in Nifty stocks. Axis Equity Fund will open for subscription on November 11 and close on December 8, the statement said. It will re-open for purchase and redemption on January 7, 2010.

Gateway Distriparks outperforms Sensex with 86% gain: The Gateway Distriparks’ stock has declined nearly 6% in the past two trading days this was despite a recent announcement of fund-raising of Rs 300 crore through compulsorily convertible preference shares to Blackstone, in a bid to meet the growth plans of its subsidiary Gateway Rail Freight.

Satyam wants fraud suits filed in US moved to India : Satyam Computer Services, the company at the centre of India’s biggest corporate-fraud inquiry, said US lawsuits filed against it should be dismissed because its home country is the proper place for the litigation. In a court filing on Tuesday, the software-services provider said it was joining a motion by its auditors, Price Waterhouse and Lovelock & Lewes, to dismiss the American fraud suits brought by investors.

Renault-Nissan, Bajaj to roll out $2,500 car in 2012: Renault-Nissan and Bajaj Auto will roll out their ultra low-cost car in 2012, a year later than the original target, with the Indian As per the verbal agreement between both the companies, the design, engineering, sourcing and manufacturing of the proposed car will be handled by Bajaj Auto, while its branding, marketing and selling will be done by the Renault-Nissan

Citi continues to sell Polaris shares: Citi completed yet another round of selling mid-tier company Polaris Software Lab’s shares in the open market on Tuesday. In the last few months, OrbiTech, an entity controlled by Citi has sold off over 5% of its holding in the company. According to bulk deal trade data on the NSE, OrbiTech sold 7.5 lakh shares at Rs 166.04 apiece on Tuesday. The identity of the buyer is not known. As of 30 June 2009, Citi held a 43.33% stake in Chennai-based Polaris but after a series of open market selling in the last few months, that stake is down by over 5% to 38%. Citi holds a stake in Polaris through two entities – OrbiTech and Citibank A/C OrbiTech Ltd. Apart from these, there is also an entity called OrbiTech Employees Welfare Trust, which has a 1.41% stake in Polaris.