Pre-market: Global cues may take Sensex higher

The Indian markets are likely to open on a firm note tracking positive global cues. Overnight, US stocks jumped to their highest since July on Wednesday with the Dow Jones industrial average rising 96.88 points, or 0.78 per cent, to close at 12,578.95. The Standard & Poor's 500 Index added 14.37 points, or 1.11 per cent, to 1,308.04.

Asian shares rose to a two-month high and the euro firmed on Thursday after news that the International Monetary Fund was seeking to boost its resources to tackle the euro zone debt crisis. The MSCI's broadest index of Asia Pacific shares outside Japan inched up 0.5 per cent to a two-month high, while Japan's Nikkei average rose one per cent.

Back home, the Nifty is likely to face resistance around 4,975 – 4,986 levels, while it will seek support around 4,936 – 4,925, analysts say. At 730 am Indian Standard Time, the SGX Nifty was trading at 4985 levels, up 37 points.

Among individual stocks, Bharti Airtel could be in focus today on reports that the Income Tax department has slapped a 1,067-crore demand notice on the company.

MindTree and Bajaj Finserv could also be in limelight today on reporting a strong set of numbers for the December 2011 quarter.

Power sector stocks could also be in limelight after the promoters of private power companies met Prime Minister Manmohan Singh on Wednesday and sought solutions to problems like acute fuel shortage, coal prices, delays in green clearances and funding.

Titan Industries is looking at a capital expenditure of over 200 crore in the fiscal 2012-13 to expand its retail network. This could bring the stock back in focus today.

Also watch out for Bajaj Auto, Hero MotoCorp, HDFC Bank and Dish TV as they report their respective December quarter results today.