Pre-market: Markets may trade sideways

Track all the cues that are likely to impact sentiment today, including the stocks that you should keep a tab on.

The markets are likely to trade range-bound today taking cues from the global markets. Overnight, the US markets extended losses to a fourth day on Monday. The Dow Jones industrial average fell 1 per cent to end at 12,930. The Standard & Poor's 500 Index slid 1.1 per cent to 1,382.

Asian shares eased on Tuesday as investors cautiously awaited Chinese trade data to gauge whether the world's second largest economy could achieve a soft landing. MSCI's broadest index of Asia Pacific shares outside Japan was barely changed while Japan's Nikkei average opened up 0.4 per cent.

Back home, sustained trade below 5,130, will open the doors for a significant fall to 4,800-odd levels. On the upside, 5,330 now seems a major hurdle, technical analysts suggest. At 715 am Indian Standard Time, the SGX Nifty was trading at 5,263 levels – up 0.3 per cent.

Stocks to watch

Among individual stocks, US-based iGate Corporation will offer Rs 520 per share to shareholders of Patni Computer Systems to get its Indian arm delisted from stock exchanges.

Tata Steel's sales recorded 3.4 per cent growth while the hot metal has registered 3.3 per cent increase in FY12.

Rakesh Jhunjhunwala has increased stake in Viceroy Hotels to 13.45 per cent with the acquisition of an additional 3.45 per cent for Rs 2.19 crore.

Dhanlaxmi Bank has clarified that it has no plans to shut its branches or shrink operations to cut costs.

Marico plans to sell 4.56 per cent stake in the company to two foreign investors for up to Rs 500 crore to fund acquisition of the personal care business of Paras from Reckitt Benckiser.