Pre-market: Volatile session of trade seen

Coal India, Power Grid, OMCs to be in focus

Markets may see a volatile day of trade as investors would would watch out for the January WPI data which is scheduled for today. This is likely to decide the stance of RBI's monetary policy on March 19. Also, the earnings of companies like SBI and DLF would add into the market movement.

In international markets, stocks drifted in light volume on Wednesday, ending little changed, as investors remained cautious after the S&P 500 index briefly hit its highest intraday level since November 2007.

The Dow Jones industrial average fell 0.26 percent, to 13,983, the S&P 500 gained 0.06 percent, to 1,520 and the Nasdaq Composite added 0.33 percent, to 3,197.

Asian shares steadied as investors awaited the G20 meeting of finance and central bank officials over the weekend for clues to their views about global growth and the role currencies play in the economies of individual member countries.

The MSCI's broadest index of Asia-Pacific shares outside Japan steadied, after rising 0.8 percent the day before.The Nikkei stock average opened up 0.2 percent after slumping 1 percent the day before when the firming yen prompted investors to take profits on exporters.

Central banks in South Korea and Japan announce policy decisions later in the session, with no change expected from either bank.

Markets in China and Taiwan remain shut for the Lunar New Year holiday but Hong Kong resumes trading on Thursday.

STOCKS TO WATCH

Coal India,Rajesh Exports and Orchid Pharma will be reacting to its Q3 numbers which were announced yesterday after market hours.

Power Grid Corporation will be reacting to reports that the company is planning to raise Rs 2,000-3,000 crore this week by way of private placement of bonds.

Oil marketing companies will be in spotlight following the next phase of rise in diesel prices.

Q3 result expected today: Amtek India, Axis Capital, CRISIL, DeccanChronicle, DLF, Elder Pharma, FAG Bearings, GAIL, India Cements, Koutons Retail, LIC Housing Finance and SBI.