Pre-market: Volatile session of trade seen

Coal India, Gail India, Hindalco, Sun Pharma, HPCL PVR, CESC to be in focus

The markets are likely to trade volatile ahead of the futures and options expiry for May series due Thursday. However, stock specific action will continue given the results season.

US stocks rose on Tuesday, after central banks reassured investors that they will keep policies designed to foster global growth.

The Dow Jones industrial average gained 0.7 per cent, to a record 15,409 at close. The Standard & Poor's 500 Index added 0.6 per cent, to finish at 1,660 levels.

Asian shares were steady and the dollar remained firm on Wednesday.

MSCI's broadest index of Asia-Pacific shares outside Japan was steady, staying above Friday's five-week low of 464.99. Australian shares were up 0.2 per cent, while South Korean shares opened 0.4 per cent higher.

At 710am Indian Standard Time, the SGX Nifty was trading at 6,100 – down 0.2 per cent.

Back home, among individual stocks, RCom could correct after Former corporate lobbyist, Niira Radia, deposed before a court in the 2G spectrum allocation case and stated that an ineligible Swan Telecom, said to be owned by ADAG Reliance Communications, was granted the radiowaves.

Coal India could be in focus again on reports that the company has hiked low grade coal prices by up to 11 per cent.

Also keep a tab on IO System, Aunde India, Sharp India and Sun TV Network as their offer for sale to comply with Sebi’s public shareholding norms opens today.

Gail India, Hindalco, Sun Pharma, HPCL PVR, Tata Global Beverages, CESC and Essar Shipping are some of the stocks that will react to their March quarter results announced on Tuesday.