Pre-Market: Soft opening on cards

The Indian markets are expected to open on a soft note tracking global cues. On the domestic front, the F-and-O expiry for the February
series due today is also likely to impact the sentiment.

Asian shares and the euro fell on Thursday on concerns over a slowdown in the global economy, including higher oil prices and data showing the euro zone may be sliding toward recession, fanning fresh worries about Greece.

M-S-C-I's broadest index of Asia Pacific shares outside Japan edged down 0.2 per cent, while Japan's Nikkei average opened nearly flat.

Back home, technical analysts suggest that the Nifty could witness a sharp dip from the current levels and a strong support is expected at 5,407 and 5,310 levels in the near-term. At 710 a-m Indian Standard Time, the S-G-X Nifty was trading at 5,517 levels, down one point.

Among individual stocks, Bharti Airtel is likely to be in focus today on reports that Econet Wireless is seeking at least $3.1 billion in damages from the company in a dispute over ownership of its subsidiary Airtel Nigeria.

Kingfisher Airlines also come under pressure on reports that its lenders have declined to extend further loans.

United Spirits’ over-leveraged acquisition of Whyte & Mackay, change in the corporate strategy and overhang of the acquired company are taking a toll on the balance sheet of this market leader, reports suggest.

RCom has signed final definitive agreements with three Chinese banks for refinancing its outstanding debt of about Rs 5,825 crore.

Also keep a tab on Aventis Pharma, A-B-B, Gujarat Gas and Ranbaxy that will declare their respective December quarter results.