Pre-Market: Cautious opening tracking weak global cues

The Indian markets are likely to open on a cautious note tracking global cues. The IIP data for the month of December due today will
also weigh on the sentiment.

Overnight, the US stocks rose modestly for a third straight day on Thursday after Greece reached a deal to secure a financial bailout.
The Dow Jones industrial average was up 6.51 points at 12,890.46.

The euro and shares eased on Friday as investors kept a cautious view over Greece's debt restructuring prospect. MSCI's broadest index of Asia Pacific shares outside Japan inched down 0.3 per cent, while Japan's Nikkei opened up 0.1 per cent.

Back home, the Nifty could face resistance around 5,445-5,465, while it may seek support around 5,380-5,360, analysts say. At 710 am Indian Standard Time, the SGX Nifty was trading at 5,434 down levels, down 14 points.

Among individual stocks, Tata Steel will be in focus on reporting a net loss of 603 crore for the quarter ended December 2011, as compared to a net profit of 1,003 crore in the previous corresponding period.

HPCL, Jindal SAW and Ambuja Cements are some other stocks that will react to their December quarter results that were announced post market hours yesterday.

Tulip Telecom has informed that is CEO Sanjay Jain has resigned from the company citing personal reasons. This could see the stock come under some selling pressure.

ACC is also likely to be in limelight on reporting 86 per cent rise in its consolidated net profit for the December 2011 quarter on the back
of higher sales.

Hindalco is also likely to be in focus on reports that the company will issue up to 150 million preferential warrants to the promoters
and raise 2,000 crore.

Also keep a tab on BPCL, DLF, JSW Steel, Pantaloon Retail, Reliance Communication and Tata Power that will announce their respective December quarter results today.