Pre-market: Markets expected to open on a soft note

The Indian markets are likely to open on a soft note tracking global cues. On the domestic front, they will also be eyeing the second quarter GDP growth figures due later today. Overnight, the Dow and S&P 500 advanced for a second day on Tuesday as stronger-than-expected consumer confidence data and hopes for further progress on a solution to Europe's fiscal mess bolstered sentiment.

In Asia, however, Japan's benchmark Nikkei average opened down 0.83 per cent at 8,407.63 on Wednesday, while the broader Topix shed 0.66 per cent to 724.87.

Back home, the Nifty is expected to find support at 4750 and may face resistance at 4,930 levels. At 730 am Indian Standard Time, the SGX Nifty was trading at 4799, down 13 points.

Among individual stocks, RIL will be in focus today after the company shut four wells in its flagship KG-D6 gas fields off the east coast due to high water ingress leading to output dipping to 41 million standard cubic metres per day.

Retailing stocks such as Pantaloon, Shoppers Stop will also be in limelight as the opposition, including some UPA allies, stuck on stance for a rollback of the proposed FDI in retail.

Agro Tech Foods could also see some upside on reports that US-based processed food major ConAgra Foods has increased its stake in the company by 3.67 per cent for 51.82 crore.