The Indian markets are likely to trade on a cautious note today on the back of mixed global cues. Overnight, U-S stocks ended flat and the euro held steady against the dollar on lingering hopes an EU summit can ease Europe’s debt crisis.
The Dow Jones industrial average closed up 46.24 points, or 0.38 percent, at 12,196.37. The Standard & Poor's 500 Index was up 2.54 points, or 0.20 per cent, at 1,261.01.
However, Asian markets are trading lower on Thursday with the Nikkei slipping a per cent to 8,634 and KOSPI shedding 0.6 per cent to 1,908.
Back home, analysts suggest that the Nifty is likely to face resistance around 5,090 – 5,105, while it can seek support
around 5,040 – 5,020 levels. At 710 am Indian Standard Time, the SGX Nifty was trading at 5060, down 6 points.
Among individual stocks, Britannia Industries could come under pressure today on reports that it has sacked some employees across levels in India on the basis of non-performance.
SKS Microfinance can also be in limelight today on reports that the company plans to raise a maximum of 500 crore through a share sale to institutional investors by March 2012.
Also keep a tab on L&T. The company on Wednesday informed the exchanges that it had bagged new orders worth 2,700 crore across various businesses in last two months.
Sesa Goa, a Vedanta Group company, acquired a 1.5 per cent equity stake in Cairn India for 936 crore. This could bring both the stocks in focus today.
Watch out for Natco Pharma on the back of reports that Sun Pharma Chairman - Dilip Shanghvi - has bought one per cent stake in the Hyderabad-based company.
