MUMBAI (Reuters) - The BSE Sensex is expected to start higher on Wednesday after Asian markets rose on hopes for a solution to Greece's debt worries, but there could be resistance after the main index climbed more than 15 percent in just over six weeks.
Property developer Unitech Ltd may fall after it reported a bigger-than-expected 50 percent fall in December quarter net profit on a sharp drop in sales.
Oil and Natural Gas Corp and Bharat Heavy Electricals Ltd are likely to rise ahead of a meeting of ministers to discuss share sales in the state-run companies.
"There will be an initial stride on good set of quarterly numbers we have seen," said Kishor Ostwal, chairman, CNI Research. "But a correction is obvious because this kind of premiums are not justified when the fundamentals are not strong."
Automaker Tata Motors reported a better-than-expected 40.5 jump in quarterly profit on Tuesday, while State Bank of India beat expectations with a 15.4 percent rise in profit a day earlier.
The MSCI's measure of Asian markets other than Japan <.MIAPJ0000PUS> was up 0.68 percent by 0229 GMT, while Japan's Nikkei <.N225> rose 1.72 percent.
The Nifty India stock futures in Singapore were up 0.42 percent, indicating a higher start for local shares.
The main 30-share BSE stock index <.BSESN> rose 0.4 percent on Tuesday to 17,848.57, its highest close in more than six months.
STOCKS TO WATCH
* Education services provider Educomp Solutions is likely to drop after its quarterly profit slumped 75 percent.
