Pre-Market: Markets likely to have a positive start

At 8.20am, the Asian markets were largely in the green and the SGX Nifty was up 0.2% at 8,484.

The benchmark indices are likely to open on a positive note, tracking the favourable cues from the Asian front.

The markets had ended flat with a negative bias on Tuesday, with the Sensex ending at 27,933, down 28 points and Nifty ending six points down at 8,454.

One may, however, be poised for another range-bound session of trade in a repeat of the previous session, given the agreement on Greece deal and Iranian nuclear deal and return of calmness in the Chinese bourses, and the resultant absence of any fresh triggers,

The market participants may also take a cautious stance ahead of a deluge of global events/data releases scheduled during the day. The Greece Parliament will vote on a sweeping austerity package to secure the funding it needs to stem its fiscal crisis and remain in the euro zone. The Chinese economic data, Bank of Japan's policy decision and congressional testimony by the U.S. Fed are also some events that would engage the attention of the market participants.

At 8.20am, the SGX Nifty was up 0.2% at 8,484.

GLOBAL MARKETS

Asia has opened largely in the green ahead of a raft of Chinese data due during the day. Japan's benchmark Nikkei rose to its highest level since July 3, extending gains into a third session, despite a slightly stronger currency. Hong Kong's benchmark Hang Seng Index was little changed, hovering along the flat line.

South Korean shares rose to a more than one-week high, tracking Asia-wide gains, despite mixed economic data.

However, Shanghai declined by 1.6% following a volatile session on Tuesday, which saw the benchmark index briefly hit a near two-week high.

Overnight, Wall Street had gained for a fourth straight session on Tuesday, its longest winning streak since January, buoyed by the energy sector as oil prices rebounded from early declines. The Dow Jones rose 75 points or 0.4% to 18,053, and Nasdaq Composite added 33 points or 0.6% at 5,104.

STOCKS TO WATCH

HDFC turns ex-dividend today for a final dividend of Rs 13 per share for the year ended 31 March 2015.

DLF is likely to be in the limelight on plans to raise Rs 2,500-3,000 crore by next month via private equity and is in talks with Singapore government's investment arm GIC to sell stake in a new housing project here.

Sun TV is set to react to the news reports that an inter-ministerial panel has rejected the Sun Group's application to participate in the next-stage FM radio auctions, indicating that the licence renewal request of the Chennai-based network's 33 TV channels - hanging fire after home ministry denied them security clearance - could suffer the same fate.

L&T Finance has acquired a 26 % stake in Grameen Capital India, enaged in credit enhancement and advisory services, reporets suggest. This development could have a bearing on the stock price.

India Cements is likely to see some action on the bourses on the news that India Cements, owner of Chennai Super Kings (CSK) is planning to move the Supreme Court against the order of the court appointed committee suspending the team from Indian Premier League for two years.

According to reports, luxury car maker Jaguar Land Rover (JLR) reported a record June for sales in the UK and Europe, but suffered a big fall in its figures for China. Keep a watch on the Tata Motors counter.