Pre-Market: Global cues to dictate trend

Dr Reddys, Maruti Suzuki, Hero MotoCorp to be in focus

Stock specific action is likely to continue today with the overall markets expected to trade with a positive bias tracking global cues.

Overnight, the S&P 500 surged 0.7 per cent to touch its highest level since early May on Wednesday as corporate profits from bellwethers Intel and Honeywell defied fears of a collapse in earnings. The Dow Jones industrial average ended 0.8 per cent higher.

In Asia, Japan's Nikkei was up 1.2 per cent on Thursday, although market players warned that appreciation in the yen could limit gains.

Back home, the Nifty is likely to seek support around 5,195-5,180, technical analysts say, while it is expected to face resistance around 5,235 – 5,250 levels. At 705 am Indian Standard Time, the SGX Nifty was trading at 5,265 – up 0.8 per cent.

Stocks to watch

Among individual stocks, Maruti Suzuki can drift lower in trade today after a clash erupted between workers and the managerial staff at its Manesar plant, forcing stoppage of work.

Steelcast has reported a 20.41 per cent rise in net profit to Rs 2.95 crore for the quarter ended June 30.

JSPL is reported to be in advanced stages of discussions to acquire the controlling stake in Canada's CIC Energy for about Rs 1,800 crore.

Dr Reddy's Laboratories has launched Atorvastatin calcium tablets, a bioequivalent generic version of Lipitor tablets in the US market. The company will also announce its June quarter results today.

Also keep a tab on Dish TV, Hero MotoCorp, Kotak Mahindra Bank, NIIT Technologies as they will announce their respective June quarter results today.