Pre-Market: Inflation data to decide market moves

SGX Nifty flat

Inflation data for the month of July due later in the day today will dictate how the markets pan out in trade today.

World stock markets eased on Monday after weak Japanese economic data added to the latest reports showing a slowing global economy, while the euro rose as investors exited bearish bets against the common currency.

European shares posted their worst day in more than a week and US stocks snuffed a six-day rally for the S&P 500 after Japan reported its gross domestic product expanded just 0.3% in the second quarter.

In Asian markets, MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.1% on Tuesday, while Japan's Nikkei stock average opened up 0.3%.

Back home, the Nifty is likely to seek support around 5,330 – 5,320, while it can face resistance around 5,365 – 5,375, technical analysts suggest. At 705 am Indian Standard Time, the SGX Nifty was trading at 5,380 – up 0.2%.

Among individual stocks, Maruti Suzuki could be in focus today on reports that it has no plans of announcing as to when it will reopen its plant at Manesar.

Tata Steel, Suzlon Energy, Glaxosmithkline Pharma and Coal India are a few stocks that will react to their respective June quarter results declared on Monday.

In earnings watch, keep a tab on Hindalco and Reliance Infrastructure that will announce their respective results today.