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Pre-market: Markets likely to open flat on muted global cues

SGX Nifty was up barely two points at 5886

SI Reporter Mumbai
Markets are likely to open on a flat note following muted global cues. The SGX Nifty was up barely two points at 5886.

Meanwhile, Asian shares eased on Friday with investors turning cautious as weak euro zone growth data presaged the G20 meeting in this session and on Saturday in Moscow.

The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%. The Nikkei stock average opened down 0.6% while markets in China and Taiwan remain shut for the Lunar New Year holiday.

South Korean shares opened up 0.1% after closing on Thursday at a fresh three-week high in thin trade, helped by a halt in the yen's slide.

In US, the S&P 500 eked out a small gain for a third straight session on Thursday, helped by a flurry of merger activity, though investors see no catalysts to lift the market further with major averages near multi-year highs.

The market's slowed advance took the S&P 500 to its highest intraday level since November 2007 on Wednesday. While the index notched its third straight day of gains, none was more than 0.2%.

The Dow Jones industrial average was down 0.07%, at 13,973. The Standard & Poor's 500 Index was up 0.07%, at 1,521. The Nasdaq Composite Index was up 0.06%, at 3,199.

STOCKS TO WATCH

Tata Motors is likely to start in the red as the company's  consolidated net profit declined a higher-than-expected 52 % year-on-year to Rs 1,628 crore on the back of a huge loss in its domestic business and lower profits at its luxury Jaguar Land Rover unit.

OMCs — Indian Oil, HPCL and BPCL will be in focus as they are expected to raise petrol prices today.

India Cements and Man Industries will be out with their Q3 numbers.

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First Published: Feb 15 2013 | 8:39 AM IST

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