Pre-market: Markets likely to trade range-bound

SGX Nifty up 0.3%

The markets are likely to trade in a range-bound manner with a negative bias marked by volatility today.

US stocks slipped on Wednesday with the Dow Jones industrial average closing 0.6% lower at 13,033. The Standard & Poor's 500 Index shed 0.4% to 1,385.

Asian shares moved in a narrow range on Thursday after the previous day's rally as investors grew cautious ahead of a key Spanish bond sale. MSCI's broadest index of Asia-Pacific shares outside Japan was nearly flat while Japan's Nikkei average opened down 0.9%.

Back home, the Nifty is likely to seek support around 5,280-5,270, and face resistance around 5,320-5,330, technical analysts say. At 705 am Indian Standard Time, the SGX Nifty was trading at 5,330 – up 0.3%.

Among individual stocks, Infotech Enterprises has posted 87% growth in profit after tax at Rs 69.8 crore for the fourth quarter ended March 31.

Also watch out for Koutons Retail. Reports suggest that the National Stock Exchange will suspend trading in the stock from 26 April.

Aviation stocks could also be in focus on reports that all airlines have raised fares on many busy air routes by 10-25% over the past few days.

RIL has filed a plea in the Supreme Court to seek the appointment of an arbitrator in its dispute over the D6 block in the Krishna-Godavari basin.

Keep a tab on ACC and Ambuja Cements as they announce their respective March quarter results today.