Pre-market: Markets expected to open on a soft note

The Indian markets are likely to open on a soft note, in-line with the other global markets. US stocks fell for a third day and hit their lowest level in two weeks on Wednesday as widespread risk aversion sent commodity prices tumbling, drove the euro to its lowest in a year and forced Italy to pay a euro-era high to sell debt.

In Asia, Japan's benchmark Nikkei average opened down 0.82 per cent at 8,449.05 on Thursday, while the broader Topix shed 0.65 per cent to 732.17.

Back home, technical analysts suggest that in case the Nifty is able to sustain above 4,750 levels, then we may see the short-term downtrend getting arrested. On the upside, however, the index is likely to face resistance around 4,800 – 4,820 levels. At 715 am Indian Standard Time, the SGX Nifty was trading at 4,718 levels, down 45 points.

Among individual stocks, Electrotherm India could be in focus today on reports that Saint-Gobain is planning to buy its pipe business.

C&C Constructions is looking to raise about 400-500 crore through sale of 30 per cent stake in one of its subsidiaries to private equity investors. This could bring the stocks back in focus today.

Unitech could be under pressure today on reports that the enforcement directorate questioned its MD, Sanjay Chandra, accused in the 2G spectrum allocation scam recently over investments made in a tax haven abroad.

Also keep a tab on Bharti Airtel. Reports suggest that Trai is in the process of taking legal action against the company for violating the MNP guidelines.