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Markets may remain volatile in the truncated week ahead. The stock exchanges will remain shut on Thursday on account of Independence day.
Investors will take their cues from key macroeconomic data like industrial output scheduled later in the day. The IIP may shrank an annual 1.2 percent, after unexpectedly falling 1.6 percent in May, a Reuters poll showed.
Global news, rupee movement, corporate results, developments at the monsoon session of Parliament and Inflation nos will be watched for direction. Food security Bill will come up in Lok Sabha today.
At 800 hrs Indian Standard Time the SGX Nifty was up 28 points at 5,576.
According to technical experts, the Nifty may seek support around 5,540-5,525, while face resistance around 5,590-5,605.
On the global front, Wall Street closed out its worst week since June on Friday, pulling back from record highs as investors focused on when the Federal Reserve will start to wind down its stimulus program, while the dollar rebounded from a seven-week low.
The Dow Jones industrial, Standard & Poor's 500 Index and the Nasdaq Composite Index lost between 0.3-0.5.
Japanese shares fell to a six-week low on Monday and the yen strengthened after data showed Japan's economy grew at a slower-than-expected pace in April-June, triggering investors to pare back some of their risk exposure.
The Nikkei share average lost 1.2 percent, falling to its lowest since June 28.
Back home, Bajaj Hindustan, Britannia Inds, DLF, GVK Power, HPCL, Hathway Cable, India Cements, Marico, ONGC, SBI, Tech Mahindra are set to unveil April-June 2013 quarter results today.
STOCKS TO WATCH
Reliance Industries -BP combine, Indian Oil Corp (IOC), Oil and Natural Gas Corp (ONGC) and GAIL are among the 8 firms in race to buy 25 per cent stake in a LNG import terminal being planned at Mundra in Gujarat.
NSEL has opened an escrow account as directed by the government to ensure payouts on priority to about 8,000 small investors stuck after the exchange halted trading.
TCS is ready to set up its software development campus in Indore Madhya Pradesh with Rs 500-crore investment.
Reliance Digital TV, the fully-owned subsidiary of Reliance Communications that runs its direct-to-home (DTH) operations, will merge with Sun Direct to become India's second largest DTH company.
Essar Oil has decided to pull out of the race to acquire the West Bengal government's stake in Haldia Petrochemicals Ltd (HPL).
