The markets are likely to remain volatile ahead tracking global cues. On the domestic front, the F&O expiry for the March series and the approaching financial year end could keep the gains under check.
The Dow Jones industrial average and the S&P 500 index ended down 0.3 per cent each at 13,198 and 1,412 levels, respectively.
Asian shares drifted lower on Wednesday as investors waited for more clues on the state of the US economy, after hopes for further stimulus from the US Federal Reserve strengthened risk appetite. Japan's Nikkei share average opened down 1 per cent, reversing from a 2.4 per cent jump on Tuesday.
Back home, the Nifty is likely to seek support around 5,205-5,185,while it can face resistance around 5,280-5,300, analysts suggest. At 7:20 am IST, the SGX Nifty was trading at 5,248 levels – down 12 points.
Among individual stocks, L&T Finance, a part of diversified group Larsen & Toubro, said that it will acquire the mutual fund business of Fidelity in India for an undisclosed amount.
TVS Europe, part of the TVS Group has acquired UK-based wholesaler and distributor of commercial vehicle parts.
Tata Global Beverages plans to purchase an additional 1.4 million shares in Mount Everest Mineral Water for around Rs 28 crore.
The Jagran group is reported to be close to buying out Nai Dunia, the Indore-based Hindi daily.
Subhash Chandra-promoted Essel Group has acquired 10.2 per cent in Hyderabad-headquartered IVRCL.
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