The markets could trade on a cautious note tracking mixed global cues. However, the F&O expiry for the month of May due tomorrow could keep the gains under check.
US stocks rose on Tuesday after a long weekend. The Dow Jones industrial average rose one per cent to 12,581. The S&P 500 Index gained 1.1% to 1,332.
On the other hand, Asian shares slipped on Wednesday. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent, while Japan's Nikkei average opened down 0.2%.
Back home, the Nifty is likely to seek support around 4,975 – 4,965, while it can face resistance around 5,005 – 5,015 levels, analysts suggest. At 705 am Indian Standard Time, the SGX Nifty was trading at 4,945 – down 0.5%.
Among individual stocks, ONGC is likely to be in focus today on reporting a 102% rise in net profit for the quarter ended March 2012.
Sail and Tata Motors are the two other stocks that will react to their respective March quarter results announced on Monday.
Escorts has informed the exchanges that its shareholders and creditors have approved the restructuring plan which involved merger of three associate firms.
Infosys could also be in limelight on reports that Ritesh Idnani, senior vice president and chief operating officer of Infosys BPO has resigned.
Competition watchdog – CCI – has given approval to RIL's proposal to acquire stake in media entities Network18 and TV18
BGR Energy, M&M, JP Associates, DLF and HDIL are some of the prominent companies that will announce their respective March quarter results today.
Also keep a tab on Speciality Restaurants that will make its debut at the bourses today.