Pre-market: Quiet opening likely, eyes on RIL Q3

Domestic cues are likely to take centrestage today in determining the market sentiment with a host of corporate results besides global cues.

World stocks and the euro rose on Thursday as the European bond auctions eased worries about the euro zone debt crisis, while encouraging earnings reports from Morgan Stanley and Bank of America bolstered Wall Street. The Dow Jones industrial average settled up 0.36 per cent at 12,623.98. The Standard & Poor's 500 Index gained 0.49 per cent at 1,314.50.

Asian shares extended their gains to fresh two-month highs on Friday. The MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent and was set for a third weekly gain and a fourth straight session of increases. Japan's Nikkei average opened up 1.3 per cent.

Back home, analysts expect the Nifty to face some resistance around 5,030 – 5,040 levels. On the downside it may seek support around 5,005 – 5,000, they say. At 710 am Indian Standard Time, the SGX Nifty was trading at 5,056 levels, up 36 points.

Among individual stocks, Tata Coffee could be back in focus today on reports that Starbucks would form an alliance with Tata Group and an announcement is likely by the end of this month.

Cairn India has commenced crude oil production from the Bhagyam field, the second-largest oil discovery in its Rajasthan block. This could bring the stock back in limelight today.

United Spirits will hold an EGM today to get approval to raise funds through FCCB’s. This could see the stock back in focus today.

SKS Microfinance could be under pressure on reporting a net loss of 428 crore for its fiscal third quarter ended December 31.

Also keep a tab on Wipro, RIL, Jet Airways, ITC and Axis Bank as they declare their respective December quarter results today.