Pre-market: Cautious opening on cards

The Indian markets are likely to open on a cautious note tracking global cues. On the domestic front, the F-and-O expiry due Thursday will also weigh on the sentiment.

Overnight in the US, the Dow Jones industrial average dipped 2.65 points to 12,291.35 at close. Standard & Poor's 500 Index ended flat at 1,265.43.

Asian shares eased on Wednesday with MSCI's broadest index of Asia Pacific shares outside Japan slipping 0.3 per cent, keeping it on track for a yearly loss of about 17 per cent. Japan's Nikkei stock average opened down 0.17 per cent in light trading, on track for a 17 per cent decline this year.

Back home, technical analysts peg the support for the Nifty at 4,720 and suggest that it will face resistance at 4,815 – 4,862 levels. At 720 a-m Indian Standard Time, the SGX Nifty was trading at 4,743 levels, down 0.3 per cent.

Among individual stocks, Jet Airways could be in focus today on reports that its chairman has got notices from the IT department for evading taxes.

Varun Industries could also be in limelight on reports that it plans to sell 51 per cent stake in an onshore oil block in Madagascar to Petro China subsidiary for 150 million dollars.

Adani Power has put on hold its capacity expansion plans due to lack of clarity on coal supplies. This could put some pressure on the stock today.

Also watch out for Tata Power that has decided to buy out BP's stake in solar JV.