Pre market: Markets likely to remain rangebound

Markets are likely to remain rangebound today tracking mixed global cues.

According to technical analysts, the NSE index is likely to seek support around 5,605-5,595, while face resistance around 5,635-5,645.

Overnight, the U.S. stock market slowly returned to life on Wednesday after two days in the dark, in the wake of the massive storm Sandy that caused the market's first weather-related two-day closure since the late 19th century.

The Dow and the S&P 500 closed little changed while the Nasdaq Composite edged lower in a session with slightly less than average volume.

 Asian shares fell on Thursday as investors waited for China's official manufacturing PMI for insight into whether growth in the world's second largest economy was bottoming out.

The MSCI index of Asia-Pacific shares outside Japan eased 0.3 percent after ending October with a 0.5 percent gain, in contrast to September's 5.6 percent rise.

At 700 Indian Standard Times, the SGX Nifty was down 25 points at 5,615.

STOCKS TO WATCH

The National Stock Exchange on Wednesday announced the inclusion of RCom and Adani Enterprises in its Nifty Midcap 50 index.

Tata Motors has signed an agreement with US-based Westport Innovations to develop an engine for its commercial vehicle range.

Muthoot Finance is looking at diluting five per cent stake to achieve the requirement of minimum 25 per cent public shareholding.

GE Capital is acquiring about 7.69% stake in a subsidiary of Bangalore-based pharma major- Biocon.