Pre-market: Markets likely to edge higher

The Indian markets could edge higher in trade today following positive global cues. Overnight, the Dow Jones Industrial Average and the S&P 500 index moved up around 0.2 per cent each to 12,471 and 1,295 levels, respectively. The euro jumped as strong demand at auctions for Italian and Spanish government debt on Thursday eased fears over the region's debt crisis, while oil prices gained more than $1 a barrel.

In Asian markets, Straits Times, up 0.8 per cent), Taiwan Index (up 0.5 per cent), Nikkei (1.3 per cent) and KOSPI (up 0.6 per cent) gained ground on Friday.

Back home, The Nifty once again faced resistance around its medium-term moving average and ended on a soft note on Thursday. On the downside, the index is likely to see a mild correction up to 4,730-odd levels in the short-term, analysts say. At 720 a-m Indian Standard Time, the SGX Nifty was trading 0.2 per cent higher at 4,876 levels.

Among individual stocks, Development Credit Bank could be in focus after it reported 90 per cent jump in net profit to 15.6 crore for the third quarter of the 2011-12 fiscal.

The Income Tax department has conducted searches at the premises of Panacea Biotec for alleged evasion of taxes, reports suggest. This could see the stock come under some pressure.

Oil India could also be in limelight today on news that the company is in advanced talks to acquire an oil and gas producing asset in Africa.

The management of Thomas Cook, the UK-based travel and foreign exchange operator, has no plan to sell stake in its Indian arm, the latter clarified. Do watch out for Thomas Cook (India) in trade today.

Also keep a tab on CMC and Sintex as they declare their respective December quarter results today.