Pre-Market: 5 stocks that are likely to be in focus today

Global cues likely to drag markets lower

The markets are likely to open in the negative zone, tracking global cues. On Thursday, indices ended flat after investors took to booking profits.

Overnight, US markets edged down on dimmed expectations for new stimulus from the Federal Reserve and data showing slower global economic growth, while the euro rose after sources said Spain is in talks over conditions for aid to reduce its borrowing costs. Dow Jones slumped 115 points to 13,057. Nasdaq slipped 20 points.

In Asia, Japan's Nikkei average fell 1.3 per cent in early trade, as expectations for quick stimulus measures from the U.S. Federal Reserve dimmed. The Nikkei dropped 114.27 points to 9,063.85. The broader Topix index lost 1 percent to 756.73.

Back home, the Nifty is likely to face resistance around 5,435-5,450, while seek support around 5,395-5,380, technical analysts suggest. At 7 am Indian Standard Time, the SGX Nifty was trading at 5,407 – down 21 points.

According to technical analysts, the Nifty retraced from higher levels owing to profit taking in select index heavyweights. The bias continues to remain positive even though select momentum oscillators are showings signs of tiredness. The index could slip to 5,370 in the near term.

Stocks to watch

Among individual stocks, software firm Ramco Systems has set up a wholly-owned subsidiary in Australia to drive growth in new markets. The company will be called Ramco Systems Australia Pty. This can bring the stock in focus today.

Shree Cement posted a six-fold jump in net profit at Rs 352 crore for the fourth quarter ended June 30, 2012 on back of higher realisation. The company had a net profit of Rs 55 crore in previous year quarter.

The Madras High Court today restrained GlaxoSmithkline Consumer Healthcare from manufacturing, selling and advertising Horlicks Nutribic brand of biscuits for trademark and copyright violations of Britannia NutriChoice Oats biscuits. Both the stocks can be in focus today.

Mahindra & Mahindra recorded highest sales of tractors in Gujarat at 5,566 units during April to June this year on the back of good demand for its mini-tractor Yuvraj. Shares of M&M may be in the limelight on the back of this news.

The government on Thursday decided to convert optionally convertible debentures of Rs 923 crore into equity and acquired over 55% stake in IFCI, the country's oldest financial institution. The move will expand the Delhi-headquartered company's equity base from Rs 738 crore to Rs 1,661 crore.