Pre-market: Gains likely to be under check

Corporate results for the December quarter of a whole host of frontline companies are likely to keep the gains under check today for the Indian markets despite positive global cues. US stocks edged lower on Monday on stalled Greek debt talks though recovered by close of session. The Dow Jones industrial average and Standard & Poor's 500 Index ended lower by 0.05 per cent and 0.25 per cent, respectively.

On Tuesday, MSCI's broadest index of Asia-Pacific shares outside Japan opened lower, but had later inched up 0.2 per cent. The Nikkei average opened before reversing course to gain 0.3 per cent.

Back home, the Nifty is likely to seek support around 5,055 – 5,030, while it will face resistance around 5,120 – 5,140, analysts say. At 715 am Indian Standard Time, the SGX Nifty was trading at 5,137 levels, up 32 points.

Among individual stocks, Tata Global Beverages could be in focus today after Starbucks Corp signed a deal with the company to open its first coffee shop in India.

Lupin has received approval from the US health regulator for tablets used in treating diabetes. This could see the stock get back in limelight today.

SBI could also be in focus today on reports that the government has approved 7,900 crore capital infusion in the bank.

Coal India has decided to rationalise prices in narrow bands for various grades of coal but decided to continue with the gross calorific value-based pricing system. This could see the stock react to the development.

Also keep a tab on Blue Dart, Crompton Greaves, Dabur India, HCL Infosystems, ICICI Bank, Punjab National Bank and TVS Motors as they will announce their respective December quarter results today.