Pre-Market: Shares may open with a positive bias

Markets are likely to remain volatile in a narrow range tracking mixed Asian cues.

Markets will remain volatile during the week ahead of the expiry of August derivatives contracts on Thursday. June quarter GDP data on Friday, movement of rupee and foreign fund flows would also largely drive the stock market this week.

At 800 hrs Indian Standard Time the SGX Nifty was up 27 points at 5,490.

According to technical experts, the Nifty may seek support around 5,435-5,410, while face resistance around 5,510-5,535.

U.S. Stocks rose in light trading on Friday, led by a jump in Microsoft shares, as trading took place without interruption a day after the Nasdaq stock exchange suffered an unprecedented, three-hour trading halt.

The Dow Jones industrial, Standard & Poor's 500 and Nasdaq Composite Index was up 0.3-1%.

Asian stocks rose and gold hit a near three-month high while the dollar nursed losses on Monday, extending a move started late last week when a steep drop in U.S. new home sales tempered expectations the Federal Reserve will soon reduce stimulus.

MSCI's broadest index of Asia-Pacific shares outside Japan. Tokyo's Nikkei climbed 0.3 percent.

STOCKS TO WATCH

Ranbaxy may withdraw from some of the global markets in the near future, while consolidating in many others.

ONGC Videsh is likely to buy US energy major Anadarko Corp's 10% stake in a giant Mozambique gas field for $ 2.6 billion this week.

JSPL has bagged five exploration licences for iron ore mining in African countries.

ITC’s board will consider demerger of the non-engineering business of subsidiary Wimco to be merged with itself.

Baring Asia to acquire Hexaware Technologies, India’s ninth largest information technology services company, in a deal worth $465 mn.

SAIL-led consortium AFISCO will initially invest only up to Rs 7,000 crore in Afghanistan for setting up a steel plant with an annual capacity of up to 1.5 MT.