Pre-market: Soft opening seen

NMDC, Coal India to be in limelight

The markets could remain under pressure in trade today given the macro-economic headwinds on the domestic front amid weak global cues.

Benchmark share indices lost nearly 1.5% on Monday, after the RBI at its mid-quarter policy review, disappointed by keeping key rates unchanged. In a post market development, Fitch Ratings revised India's outlook to negative from stable on account of limited progress on fiscal consolidation and heightened risks to growth.

Overnight, the Dow Jones industrial average lost 0.2%, while the Standard & Poor's 500 Index was up a modest 0.1%.

Asian shares slipped on Tuesday as a post-Greek election relief rally quickly ran out of steam on the back of rising Spanish and Italian bond yields. MSCI's broadest index of Asia Pacific shares outside Japan slipped 0.2%, while Tokyo's Nikkei share average lost 0.3%.

At 815 Indian Standard Time, the SGX Nifty was trading at 5,067 levels – up six points.

Among individual stocks, keep a tab on GAIL, IOC and NTPC as Fitch has lowered the credit rating outlook of these firms.

NMDC could also be in focus today on reports that the government is planning to raise Rs 7,000 crore by selling a stake in the company.

Coal India has entered into fuel supply pacts with 27 power units, including Adani's Mundra Power plant in Gujarat. This development could bring these stocks back in limelight today.

Aviation stocks could also be in focus on reports that companies are planning to cut highest level domestic fares by 20%.