Pre-market: Markets likely to open on a cautious note

Domestic cues are likely to take centre stage in trade today as the Indian markets will react to the third quarter results of Infosys, which kick starts the results season. IIP data for the month of November due later today will also impact sentiment.

US stocks held firm near recent five-month highs on Wednesday as investors awaited key bond market tests for Europe in the next two days that could determine the direction of the euro zone crisis. The Dow Jones industrial average slipped 13.02 points, or 0.10 per cent, to 12,449.45. The Standard & Poor's 500 Index gained 0.40 point, or 0.03 per cent, to 1,292.48.

Back home, analysts suggest that the Nifty as expected faced stiff resistance around the medium-term moving average of 4,880. At 715 am Indian Standard Time, the SGX Nifty was trading at 4870 levels, down 4 points.

Among individual stocks, watch out for Infosys and HDFC that announce their respective December quarter results today.

ITC expects growth in its food business to ease in the coming fiscal year, in line with the industry, and plans to increase prices as food inflation remains high, reports suggest. This could bring the stock back in focus today.

Praj Industries could also be in focus today on reports that it has acquired 50.2 per cent stake in Neela Systems for 64 crore.

The government has agreed to infuse fresh capital into State Bank of India through a preferential issue and the country's largest lender will get up to 6,000 crore before the fiscal-end, reports suggest. The stock could react to this development in trade today.