Pre-market: Cautious opening on cards

NMDC, Suven Life Sciences to be in focus

Domestic cues in terms of the depreciating rupee and mixed global markets could keep the gains in check for the Indian markets in trade today.

In a bid to ease the tightening liquidity situation the RBI will conduct open market operations by buying back government bonds aggregating Rs 12,000 crore on Friday. So far in FY13, this is the fourth consecutive OMO (purchase), announced by RBI.

US stocks closed mostly flat on Tuesday after a volatile session. Asian shares retreated on Wednesday ahead of a meeting of European leaders. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7%. Japan's Nikkei stock average opened down 0.2%.

Back home, the Nifty has support around 4,835 – 4,800, while it may face resistance around 4,840 – 4,980 levels, analysts say.

At 815 am Indian Standard Time, the SGX Nifty was trading at 4,829 levels – down six points.

Among individual stocks, NMDC could be in focus today on reports that its Australian arm, Legacy Iron, is set to acquire six coal tenements in Queensland.

Suven Life Sciences has secured four product patents for the treatment of disorders associated with neuro-degenerative diseases. This could bring the stock back in focus today.

Shriram EPC is planning to raise anywhere between Rs 100 crore and Rs 200 crore through a rights issue.

Gokaldas Exports has reported a net loss of Rs 51.39 crore for the March 2012 quarter, nearly double as compared to corresponding quarter last year.

Also keep a tab on Bhel, Canara Bank and Tech Mahindra as they will announce their respective March quarter results.