Pre-market: Markets likely to witness a sluggish start

The SGX Nifty is at 5,215 levels, down 18 points

The markets could start on a sluggish note today tracking global cues. The S&P 500 and the Dow edged lower on Wednesday as data showed that private sector hiring fell far more than expected in April, sparking concerns that Friday's US jobs report will also disappoint investors.

Asian shares slipped on Thursday and the euro wallowed near a two-week low after disappointing data from both sides of the Atlantic rekindled concerns about the strength of the global economic recovery.

MSCI's broadest index of Asia Pacific shares outside Japan slipped 0.1 per cent, with South Korean shares down 0.3 per cent. Tokyo financial markets were closed for a public holiday.

Back home, the Nifty is likely to face resistance around 5,260-5,275, while it can seek support around 5,220-5,205 levels, technical analysts suggest. At 710 am Indian Standard Time, the SGX Nifty was trading at 5,215 levels – down 18 points.

Among individual stocks, Riddhi Siddhi Gluco Biols will react to news that Gujarat high court has approved the scheme of arrangement for stake sale of its starch business to France-based Roquette Freres.

Six years after Fiat has decided to call off its distribution and commercial alliance with Tata Motors.

Petronet LNGhas signed an agreement to invest Rs 4,500 crore in building a five-million-tonne import terminal on the Andhra coast.

Tractor sales of Mahindra & Mahindra's Farm Equipment Sector have declined by nearly 10 per cent to 16,049 units in the domestic market in April 2012.

Also keep a tab on Marico, NDTV and Piramal Healthcare as they will announce their respective March quarter results today.