The markets are likely to turn cautious and choppy ahead of the key events – Economic Survey, Monetary Policy – due today and the Union Budget presentation tomorrow.
Overnight, the Dow Jones industrial average rose 0.1 per cent to 13,194 and the Standard & Poor's 500 Index slipped 0.1 per cent to 1,394 levels.
Asian shares eased on Thursday on renewed concerns about Chinese growth, but a brighter global economic outlook underpinned the dollar and kept investor risk appetite intact. Japan's benchmark Nikkei average opened up 0.7 per cent at 10,115.40 on Thursday, while the broader Topix gained 0.6 per cent to 863 levels.
Back home, the Nifty is likely to face resistance around 5,485 – 5,500, and on the downside it can seek support around 5,440 – 5,425, technical analysts suggest. At 720 am Indian Standard Time, the SGX Nifty was trading at 5,510 levels, down 3 points.
Among individual stocks, keep a tab on interest rate sensitive counters such as auto, real estate and banks on the back of RBI’s review of the Monetary Policy.
Trent has raised nearly Rs 250 crore through placement of shares with institutional investors.
Japan's Kobe Steel is planning to buy a small stake in steel pipemaker Man Industries.
Punj Lloyd has bagged a contract for mechanical works worth about RS 153 crore from Singapore's SK Engineering and Construction Co.
Reliance Communications and Reliance Power will move out of the National Stock Exchange's 50share Nifty index with effect from April 27, and would be replaced by Asian Paints and Bank of Baroda.