Markets Today: What's in store?

Get all the cues that are likely to influence trade today, including the stocks you need to keep a tab on.

The Indian markets could open with a positive bias tracking global cues. December quarter result of telecom major Bharti Airtel due today is also likely to impact the sentiment.

US stocks rose slightly on Tuesday with the Dow Jones industrial average settling up 33.07 points, or 0.26 per cent, at 12,878.20. The Standard & Poor's 500 Index gained 0.20 per cent to end at 1,347.05.

Asian shares remained becalmed on Wednesday with MSCI's broadest index of Asia Pacific shares outside Japan mostly flat, while Japan's Nikkei rose 0.6 per cent.

Back home, technical analysts suggest that the recent high of 5,413 could be the immediate resistance for the Nifty, and it may seek support around 5,255 levels. At 720 am Indian Standard Time, the SGX Nifty was trading at 5,375 levels, up 0.3 per cent.

STOCKS TO WATCH

Among individual stocks, ICICI Bank will be in focus today on reports that Singapore-based Temasek Holdings plans to sell 1.38% stake in the bank to raise up to $303 million.

The government has rejected Reliance Industries' demand for a revision in the KG-D6 gas price. This could see the stock come under some pressure in trade today.

Low base and better price helped JK Lakshmi Cement to clock over 10-fold jump in net profit at 49.24 crore in third quarter of the current fiscal. This could see the stock come back in limelight today.

Watch out for agro-related stocks as an Empowered Group of Ministers has decided to allow further export of one million tonnes of sugar in view of surplus production and reduce export price of basmati rice to 700 dollars per tonne.

Besides Bharti Airtel, keep a tab on Jubilant FoodWorks, ONGC, Power Grid and Tech Mahindra that will announce their respective December quarter results today.