Pre-market: Cautiousness to prevail

A vigilant opening may await the bourses this trading session following mixed cues from the global peers. The Singapore Nifty futures are at 4,990 down, 37 points.

Meanwhile, in the US markets, overnight, stocks experienced a roller-coaser ride as investors reacted to a better-than-expected readings on US growth and signs of stailization in Europe. Europe again averted disaster in its debt crisis when German lawmakers rallied behind Chancellor Angela Merkel to approve a stronger euro zone bailout fund on Thursday. The markets remained volatile throughout the day before rallying into the close. The Dow Jones industrial average closed up 1.3% at 11,154. The S&P 500 closed up 0.8% at 1,160, after earlier being up as much as 2.2%. The Nasdaq Composite fell 0.4% at 2,481.

Asian markets, in morning deals, are trading mixed with the Nikkei having gained 0.3% for a fourth straight day of gains after the German vote boosted hopes about an eventual resolution to Europe's sovereign debt woes. However, the Shanghai Composite and Hang Seng indices have shed 0.2% and 1.7%, respectively.

Back home, on Thursday, markets advanced 2% on back of short covering ahead of derivatives expiry, and buying in IT and auto shares. The Nifty ended up 70 points, at 5,015 and the Sensex surged 252 points, at 16,698.

"Nifty future now caps an immediate resistance around 5050 levels, holding above this level on closing basis may give further buying momentum towards 5120-5150 levels. Whereas on the downside, 4950 holds as an immediate cap, below which 4900-4880 levels can be again seen by the market," said Ashish Chaturmohta, IIFL Private Wealth. He also added the stocks which are looking positive include ACC, BIOCON and Hindustan Unilever whereas weakness continues to remain in Axis Bank, Tata Steel and Larsen & Toubro.

Among individual stocks, Indraprastha Gas may be in the limelight today after the company announced plans to hike CNG prices. It is likely to be joined by Bosch Limited, after the publicly-held Indian subsidiary of German automotive parts supplier Bosch, on Thursday said it is facing a strike at its Bangalore plant, which employs 2,500.

Other stocks to  watch out for include, Bajaj Corp, Prism Cement and the Bharti group.