Pre-market: Choppy trades seen

Banking, telecom stocks in limelight

The markets are likely to witness another choppy session tracking mixed global cues. US stocks edged lower on Wednesday after  the  Federal Reserve held rates steady and acted to aid the fragile economy with stimulus measures that were in-line with market expectations.

The Dow Jones industrial average ended down 0.1% and the Standard & Poor's 500 Index lost 0.2%.

Asian stocks struggled on Thursday following the US Federal Reserve’s actions and mirrored declines on Wall Street. MSCI's broadest index of Asia Pacific shares outside Japan edged down around 0.2%. Japan's Nikkei share average bucked the trend, rising 0.7%.

Back home, the Nifty is likely to seek support around 5,105 – 5,095, while it can face resistance around 5,135 – 5,145 levels.

At 815 am Indian Standard Time, the SGX Nifty was trading at 5,111 – down 21 points.

Among individual stocks, banking stocks such as SBI, Bank of Baroda, PNB, ICICI Bank and Axis will be in focus after rating agency Fitch downgraded the long-term foreign currency issuer default rating of these financial institutions to negative.

Telecom stocks could also see some action as Pranab Mukherjee-led EGoM is slated to decide on the base price for the 2G spectrum auction today.

Also keep a tab on cable and broadcasting companies like Den Networks, Hathway Cable on reports that the information and broadcasting ministry has extended the deadline for digitilisation in four metros from June 30 to October 31, 2012.