Pre market: Cautious opening on cards, F&O expiry eyed

F&O expiry and US 'fiscal-cliff' talks to be focus

Markets are expected to remain range-bound in trade today on the back of global and domestic cues. Asian shares were capped on Thursday on investor edginess about the chances of US lawmakers striking a deal to avoid a fiscal crunch by December 31.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed, with Australian shares inching down 0.1 per cent and South Korean shares opening 0.1 per cent lower. US stocks fell slightly in thin volume and European markets were shut for the Christmas holiday.

The Nikkei share average, however, climbed 0.9 per cent to a 21-month high on Thursday, led by exporters.

On the domestic front, the F and O expiry for December series dues later in the day today will also impact sentiment.

Among individual stocks, Bhushan Steel could be in focus as the company plans to seek shareholders nod to raise up to $1 billion through issue of fresh securities.

Promoters of Suzlon Energy have sold shares worth Rs 63 crore as part of corporate debt restructuring mechanism and the funds would be used to reduce liabilities.

The government has approved sale of its 12.5 per cent stake in Rashtriya Chemicals and Fertilisers Ltd, which could fetch around Rs 360 crore to the exchequer.

Grounded carrier Kingfisher Airlines has failed to present regulators with a clear funding plan under a proposal to get it flying again, reports suggest. This could see the stock come back in the limelight today.