Pre-market: Choppy trades seen

Titan, MTNL, SAIL in focus

The markets are likely to remain choppy for most part of the day today tracking global cues.

US stocks fell on Thursday, hit by more warnings in the technology sector. The Dow Jones industrial average lost 0.3 per cent, while the Standard & Poor's 500 Index closed 0.5 per cent lower.

Asian shares marked time with small gains on Friday ahead of China's second-quarter gross domestic product figures which could depress risk appetite, while a Moody's downgrade of Italy's credit rating threatened to rekindle worries over Europe's debt crisis. Japan's Nikkei average opened down 0.2 per cent.

Back home, the Nifty is likely to seek support around 5,220 – 5,205 and it can face resistance around 5,250 – 5,265 levels. At 705 am Indian Standard Time, the SGX Nifty was trading at 5,229 – down 0.5 per cent.

Among individual stocks, TCS will react to its June quarter results announced post market hours on Thursday.

Titan has spun off its third-party premium watch retailing arm into a separate business unit. This could see the stock come back in focus today.

Surana Industries Limited plans to invest over Rs 4,500 crore in expanding its steel manufacturing capacity and in power projects.

On the other hand, MTNL too plans Rs 800 crore capex in FY13. The developments could see both the stocks come back in the limelight today.

SAIL is also likely to be in focus today after the Union Cabinet on Thursday deferred a decision on its follow-on public offer.

Also keep a tab on HDFC Bank and Sintex Industries as they will announce their respective June quarter results today.