Pre-market: Gap down opening seen

Lanco Infra, Hotel Leela to be in focus

The markets could drift lower in trade today in-line with the global peers. US financial markets were closed on Monday for the Memorial Day holiday.

Asian shares and the euro, however, eased on Tuesday, with a relief rally from last week's heavy selling faltering quickly as a surge in Spanish borrowing costs added to simmering worries about Europe's debt restructuring challenges.

MSCI's broadest index of Asia-Pacific shares outside Japan inched down 0.1 per cent, while Japan's Nikkei average opened down 0.3 per cent.

Back home, the Nifty may face resistance around 5,010 – 5,025, while it can seek support around 4,960 – 4,945 levels, analysts say. At 810 am Indian Standard Time, the SGX Nifty was trading at 4,995 – up 10 points.

Among individual stocks, Lanco Infratech will react to reports that it may exit from the road business in order to focus on power generation, which is the group's core competence. Britannia Industries, Coal India, Bharati Shipyard and Bombay Dyeing are some of the stocks that will react to their respective March quarter results declared on Monday.

Hotel Leelaventure said a promoter group firm, Leela Lace Holdings Pvt Ltd, has pledged shares aggregating to 18.56 per cent stake in it to SBI and Bank of Baroda.

Bharat Forge could also be back in focus today on reports that it plans to sell loss-making US unit.

Aurobindo Pharma, HPCL, Nagarjuna Construction, ONGC, Power Grid and SAIL are some of the prominent companies that will announce their respective March quarter results today.