Pre-market: Cues for trade today

Rangebound trade likely

Check out the factors that are likely to impact the sentiment today, including the stocks that you need to keep a tab on.


Markets are likely to maintain range bound activity in trades today.  According to technical analysts, the NSE index is likely to seek support around 5,585-5,570, while on the upside can face resistance around 5,635-5,650.

Overnight, the U.S. stocks fell on Monday in light trading after a rally that drove the S&P 500 last week to its highest level in nearly five years and as falling oil prices hit energy shares.

Asian markets are trading mixed. Japan's Nikkei average is flat at 9,162.  At 700 am Indian Standard Time, the SGX Nifty was trading at 5,620 - up 8 points.

STOCKS TO WATCH

Tech Mahindra, on Monday announced the acquisition of 51 per cent stake in mobile value-added services (VAS) provider Comviva Technologies, a Bharti Group company, for Rs 260 crore. This see the stock get back in limelight today.

Also keep a tab on as Welspun Corp said it had raised Rs 252.80 crore by issuing non-convertible debentures.

Hindalco Industries could also remain in focus has achieved financial closure for Rs 9,896 crore debt for its greenfield smelter project at Lapanga in Odisha in one of the largest syndication in recent times.

Wockhardt has received approval from American health regulator to market Lansoprazole, a drug used in treatment of ulcers, in the US market. This see the stock get back in focus today.

JSW Steel and Himachal Emta Power lost a coal block in West Bengal, while Tata Power and Hindalco Industries are likely to lose the bank guarantee for their block in Jharkhand. This see the stock get back in limelight today.

IDBI Bank plans to raise about $500 million this week under its Medium Term Notes (MTN) programme.