Pre-market: Cautious start likely; April WPI data in focus

Among stocks, Lupin, Ashoka Buildcon, SAIL are likely to be in the limelight today

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Markets are likely to open flat on Thursday following the muted cues across other Asian markets. Investors will also be eyeing wholesale price inflation (WPI) data for the month of April due later in the day today.

On Wednesday, the Sensex had soared by 373 points, or 1.3%, to 27,251 levels and the Nifty had jumped by 108 points at 8,235. If the Nifty fails to sustain Wednesday's momentum, there is a possibility that it may retest its crucial psychological level of 8,200 in this session, analysts say.

Overnight, US stocks surrendered early gains to end the session on a flat note as some investors stood on the sidelines waiting for the next round of economic data at the end of earnings season. The Dow Jones declined by 7 points to 18,060, while the Nasdaq Composite added 5 points to 4,981.

On the Asian front, Japan's Nikkei 225 index was trading 0.6% lower at 19630, Hong Kong's Hang Seng index was trading marginally lower at 27,238 and China's Shanghai index was trading 0.6% lower at 4,347 on Thursday.

"The markets are likely open on flat note tiday. All emerging markets are trading mixed. The coming session is likely to witness a range of 8,150 on declines and 8,350 on advances on the Nifty," suggests a morning technical note from SMC Global Securities.

STOCKS TO WATCH

Lupin has announced the acquisition of Brazil's Medquimica Industria Farmaceutica SA, marking its foray into the Latin American nation, according to reports.

Reliance Industries-BP joint venture, Excelerate Energy of US and Japan's Mitsui are in the race to establish a Rs 2,740 crore floating LNG import terminal at Mumbai.

According to reports, SAIL has completed the current phase of the modernisation and expansion of the Bokaro Steel Plant with an investment of Rs 6,325 crore.

Ashoka Buildcon is likely to see action after reporting a over two-fold increase in consolidated net profit at Rs 37.80 crore for the quarter ended March 31, 2015.

Emami Ltd is set to be in focus after posting a 24.5% year-on-year growth in its net profit for the quarter ended March at Rs 138 crore on the back of a similar growth in sales and increased market share.

Aditya Birla Nuvo, Amtek Auto, Arvind, Jubilant FoodWorks, Indian Bank, MCX, Oriental Bank of Commerce, P C Jeweller are some of the companies that are likely to announce their March quarter results today.