Pre-market: Expiry day to see choppy trades

SKS Microfinance, MRF to be in focus

The markets are likely to trade choppy ahead of the F&O expiry for the July series today. Weak sentiment across the global markets will also weigh.

Asian shares and the euro steadied on Thursday after bouncing from recent lows as hopes grew for more US stimulus to support growth and new European policy measures to keep the euro zone's debt crisis from deepening further.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3 per cent and Japan's Nikkei opened up 0.5 per cent.

Back home, the Nifty is likely to seek support around 5,095 – 5,080, while it can face resistance around 5,125 – 5,140, technical analysts say. At 725 am Indian Standard Time, the SGX Nifty was trading flat at 5,110 levels.

Among individual stocks, SKS Microfinance could react to the reports that some of its employees have cheated the company to the tune of Rs 15.8 crore in the last financial year.

Vijaya Bank, MRF, Jubilant FoodWorks and Novarts India will react to their respective June quarter results declared on Wednesday.

Cholamandalam Investment and Finance Company could also be in the limelight today on reports that Morgan Stanley has bought shares worth Rs 40.39 crore the company.

Reliance MediaWorks’ board has approved raising up to Rs 600 crore by way of rights issue in a move to reduce the debt burden.

In earnings watch today, keep a tab on ACC, Ambuja Cements, BHEL, ITC, JSW Steel, MCX, Sterlite Industries, Tata Communications and Thermax.