Pre-market: Volatile trades likely ahead of Railway Budget

Global stocks in red; Aviation and rail stocks, power shares will be in focus

Markets are likely to see a volatile trading session ahead of the Railway Budget which is to be presented today. Meanwhile, the opening is likely to be flat to negative following weak global cues. At 0640 hrs,the SGX Nifty was flat at 5,845.

In US markets, stocks suffered their biggest drop since November after a strong showing in Italian elections by groups opposed to the country's economic reforms triggered worry that Europe's debt problems could once again destabilize the global economy.

The Dow Jones industrial average dropped or 1.5 percent, to 13,784 at the close. The Standard & Poor's 500 Index lost 1.8 percent, to 1,488. The Nasdaq Composite Index fell 1.4 percent, to 3,116.

Asian markets were largely in the red with Japan's Nikkei share average dropping 2.4 percent to open at 11,380, retreating from a  53-month high as the yen strengthened on uncertainty following the Italian elections, with shares of some big exporters to Europe tumbling. The only exception among the Asian markets was Shanghai Composite which was up 0.5 percent.

STOCKS TO WATCH

Cairn India is likely to open in the green as the company begun drilling its first exploration well in four years on the prolific Rajasthan block.

Pharmaceuticals firm, Zydus Cadila may be on an upswing in today's trades following the final approval from US health regulator to market generic Ranitidine Hcl (hydroclhoride) injection used in treating peptic ulcers.

Country's largest private telecom company Bharti Airtel is likely to open on a positive note as the telecomm player will launch 4G services in Chandigarh by the end of next month.

Jet Airways may continue to reamin in the negative as the much anticipated Jet-Etihad deal has hit a roadbloack.

Kingfisher Airlines is set for another day in red as Government withdrew of all domestic and international flying slots of the grounded carrier with immediate effect.

Tata Power, Adani Power may see a green tick as CERC is likely to announce the orders on petitions moved by Tatas and Adanis seeking higher tariff for electricity generated from their imported coal-fired projects.