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After surging nearly 1.7 per cent on Monday, the Indian markets are likely to consolidate and remain range-bound with a positive bias in trade today.
Japanese stocks fell while the dollar held steady against the yen on Tuesday as market players awaited direction from US and UK markets when they resume trade after holidays on Monday, following last week's turbulence.
The Nikkei stock average opened down 1.4 per cent, extending Monday's 3.2 per cent plunge. MSCI's broadest index of Asia-Pacific shares outside Japan was steady, holding slightly above Friday's five-week low of 464.99. Australian shares were nearly flat and South Korean shares opened up 0.2 per cent.
At 705am Indian Standard Time, the SGX Nifty was trading at 6,083 – up 0.2 per cent.
Among individual stocks, keep a tab on Pipavav Defence and Offshore on reports that it has allotted over 2.45 crore shares of Swedish defence major SAAB AB for about Rs 200.96 crore.
Coal India has reported almost 35 per cent rise in the consolidated net profit at Rs 5,413.9 crore for the quarter March.
Britannia Industries could also see some action on reports that the company is effecting a major rejig of its top management. As part of this, Managing Director Vinita Bali, would focus on the company's international business.
RIL could see some consolidation after the steep rise on Monday after the company and its partners announced a significant gas and condensate discovery in the KG D6 block.
Also keep a tab on CESC, Dredging Corporation, Dishman Pharma, Engineers India, Gail India, Gitanjali Gems, Havells India, Hindalco, HPCL, Parsvnath Developers and PVR as they will react to the March quarter results today.
