Pre-market: Markets likely to trade range-bound

The markets are likely to trade range-bound today with a positive bias despite mixed global cues. Asian shares rose on Tuesday, riding on the back of strong gains in global equities overnight after solid manufacturing data from the US and leading Asian exporters offset signs of mild recession in Europe.

The stronger-than-expected factory data pushed US stocks to four-year highs, while European shares recorded their biggest daily gain in three weeks despite sluggish factory activity in the euro zone.

In Asia, MSCI's broadest index of Asia Pacific shares outside Japan added 0.3 per cent to the previous day's modest gain, while Japan's Nikkei average opened down 0.3 per cent. At 710 am Indian Standard Time, the SGX Nifty was trading at 5,395 levels – up 35 points.

Among individual stocks, Coal India could remain under pressure today on reports that the government is likely to issue a presidential directive to the company on fuel supply pacts.

ACC has registered a 7.3 per cent increase in sales in March 2012 as compared to the previous corresponding period.

Marico is eyeing a five per cent stake sale to fund its 600-crore rupee acquisition of Paras Pharmaceuticals' personal care portfolio.

Oil marketing companies will also be in focus today on reports that they have hiked auto LPG prices by Rs 6 per litre, the third increase this year.

BHEL will report key financials for the fiscal ending March 2012 today. The company is expected to come out with gross sales, earnings per share, net profit and order backlog /order inflow numbers.