The markets could edge higher in trade today tracking global cues. Global stocks rose on Thursday as investors focused on an improving US labour market and other data in hope the rally would advance further.
The Dow Jones industrial average closed up 0.22 per cent at 12,980. The Standard & Poor's 500 Index gained 0.6 per cent at 1,374 levels.
Asian shares and the euro inched up on Friday. The MSCI Asia Pacific ex-Japan was up 0.4 per cent, while Japan's Nikkei opened up 0.9 per cent.
Back home, the Nifty is likely to face resistance around 5,370 – 5,385, while seek support around 5,310 – 5,290 levels, technical analysts say. At 720 am Indian Standard Time, the SGX Nifty was trading at 5,401 levels, up 20 points.
Among individual stocks, the sale of government's 5 per cent stake in ONGC through an auction finally managed to sail through with estimated proceeds of about Rs 12,000 crore.
MphasiS reported 18.5 per cent decline in net profit to 184.9 crore rupees for the quarter ending January 2012 post market hours yesterday.
Hero MotoCorp and TVS Motors will react to their sales figures for the month of February 2012.
Zee TV has received the much-awaited landing rights in China which will enable the company to cater to audience in the mandarin country.
Videocon Industries has reported 47 per cent decline in net profit for the fourth quarter ended December 2011 at 86.4 crore rupees.
