Pre-market: Gobal, domestic cues to boost sentiment

Nifty has support at 5,640 levels, analysts say

Markets are likely to open in the positive zone following cues from global markets as more corporate numbers continue to impact investor sentiment.

U.S. stocks gained after data on new U.S. homes in September. Dow and Nasdaq added 3-5 points each. In Asia, Nikkei jumped, driven by US markets and a fall in the yen.  The Japanese stock exchange went up 103 points to 8910. At 700 hrs IST the SGX Nifty was up 30 points at 5691.

Market experts expect the upside to remain capped for now. The upside is likely to be capped around 5,700-odd levels. On the downside, the index is likely to test 5,575 in the near term. On Thursday, the NSE index is likely to seek support around 5,640-5,625, while face resistance around 5,680-5,695.

From individual stocks, Tata Motors said it will launch six new products in the next one year. Launching a new version of its sports utility vehicle Safari Storme the company said that while its focus will be on the volumes segment, it will also continue to introduce new products in the fast growing SUV market.

Infotech Enterprises witnessed a 63.66 per cent growth in its net profit to Rs 50.31 crore for the second quarter ended September 2012, as compared to Rs 30.74 crore in the corresponding quarter last year.

According to reports, IndusInd Bank has picked three banks including Morgan Stanley and Asia-Pacific brokerage CLSA for a sale of shares that could raise between $250 million and $300 million.

Geojit BNP Paribas reported a net profit of Rs 45.31 crore against Rs 6.05 crore in the same period of last year. This can see the stock come back in focus today.