Pre-Market: Soft opening on cards

The Indian markets are likely to trend down in trade today tracking global cues. US stocks closed flat in another thinly traded session on Wednesday. The Dow Jones industrial average was up 5.75 points, or 0.04 per cent, at 12,883.95. The Standard & Poor's 500 Index was up 2.91 points, or 0.22 per cent, at 1,349.96.

Asian markets and the euro struggled on Thursday, as sentiment grew cautious after Greek political leaders said talks would continue to resolve one remaining issue standing in the way of a deal on a bailout package, which is crucial to avoiding a debt default.

MSCI's broadest index of Asia Pacific shares outside Japan edged down 0.2 per cent, while Japan's Nikkei opened down 0.2 per cent.

Back home, the Nifty could face resistance around 5,395-5,415, while it may seek support around 5,340-5,325, analysts say. At 715 am Indian Standard Time, the SGX Nifty was trading at 5,370 levels, down 24 points.

STOCKS TO WATCH

Among individual stocks, ONGC will react to the 5 per cent drop in its December quarter net profit in trade today.

Jubilant FoodWorks may also be in focus today on reporting 55.51 per cent jump in its net profit for the third quarter ended December 2011.

Gammon Infra has secured 1,684-crore NHAI project, reports suggest. This could bring the stock back in focus today.

Also keep a tab on ACC, Hindalco, Tata Steel, Ambuja Cements, HPCL, MRF and NDTV as they will announce their respective December quarter results today.