Pre-market: Markets may open higher

The markets could trend higher at open tracking positive global cues. US stocks rose on Thursday after Greece moved closer to a bond swap with private creditors to avoid a default.

The Dow Jones industrial average gained 0.6 per cent to 12,908 at the close, while the Standard & Poor's 500 Index rose around a per cent to 1,366.

In Asia, Japan's benchmark Nikkei average opened up 1.5 per cent at 9,911 on Friday, while the broader Topix gained 1.3 per cent to 847 levels.

Back home, the Nifty is likely to seek support around 5,190 – 5,175, while it may face resistance around 5,250 – 5,265 levels, technical analysts suggest. At 710 am Indian Standard Time, the SGX Nifty was trading at 5,303 levels, down 14 points.

Among individual stocks, watch out for MTNL. Reports suggest that LIC wants to divest its 18.81 per cent stake in the company through private placement of shares.

Moody’s has downgraded various debt instruments of Bank of India by a notch, owing to a sharp rise in non-performing assets and pressure on profitability.

Also keep a tab on MCX that makes its debut at the bourses today.

Glenmark Pharmaceuticals has received final approval from the US health regulator for its generic cream used for treating skin disorders.

Tata Steel is looking to foray into merchant mining, a move that could mark the emergence of a new metals and mining powerhouse.