The markets are likely to open on a cautious note today after falling the most in five months on Monday spooked by crude oil prices, hovering around 10-month highs due to escalating tensions over Iran’s nuclear programme.
Overnight, the US markets ended flat with the Dow Jones Industrial Average and the S&P 500 indices closing 0.1 per cent higher.
Japan's Nikkei share average slipped 0.6 per cent to 9,573 levels on Tuesday after market participants booked profits, while the broader Topix index eased 0.8 per cent to 829 levels.
Back home, the Nifty is expected to find support at 5,200 levels, analysts say. At 715 am Indian Standard Time, the SGX Nifty was trading at 5,356 levels, up 29 points.
Among individual stocks, Jaiprakash Associates is likely to be in focus after the company informed that its shareholders and creditors have approved the hiving off of the cement business to a wholly-owned subsidiary.
Gitanjali Gems is close to acquiring a jewellery retail company in China and hopes to announce a deal in the next 2-3 months, reports suggest.
Hit by subdued demand and price of manganese ore, state-run MOIL’s turnover this fiscal is likely to fall nearly 20 per cent to 900 crore rupees.
Mauritius-based Caduceus Asia Mauritius Ltd is planning to pick up 11.93 per cent stake in Shasun Pharmaceuticals.
Strides Arcolab has reported 30-fold jump in consolidated net profit to 68.4 crore rupees for the fourth quarter ended December 2011.
