Pre-market: Higher opening likely though volatility will persist

Strong US data has lifted most Asian markets though concerns about global growth persist

Benchmark indices are likely to witness a gap-up opening tracking gains in select Asian indices and late recovery on Wall Street due to fall in jobless claims in the US.

At 8:30AM, the early indicator SGX Nifty was up 51 points at 7,807

Sell off by FIIs was massive who offloaded Indian shares worth Rs 1,128 crores on Thursday.

The gloom hanging upon the Asian markets was partially lifted as he number of Americans filing new claims for jobless benefits fell to a 14-year low last week and industrial output  rose sharply in September after a fall in the previous month. After rising 0.3% from a four and a half month low Nikkei index pared gains and is trading with a loss of 0.1%. Hang Seng is up 0.6% while Straits Times is gaining 0.2% though Shanghai Composite is down 0.4%

Despite strong economic data trading was choppy at US markets as investors remain cautious about a possible fall in US earnings data,  worries about Ebola scare and persistent fall in crude prices. The Dow closed with a loss of 0.15% while Nasdaq ended flat. Energy shares provided the biggest boost to the S&P 500 though it ended flat too.

Stocks to watch

IT major TCS will be the prime focus on the back of continued  strong financial performance to post 13.6% annual net profit growth in the July-September quarter, which is slightly below the estimates of analysts. N Chandrasekaran, CEO and MD,  has been reappointed for another five years by the company during the quarter.The company also announced the merger of subsidiary CMC with itself, where shareholders would get 79 TCS shares of Rs 1 each for 100 CMC shares of Rs 10 each.

Impressive Q2 results will keep the focus on Hero Motocorp. The Q2 profits of Hero Motocorp at Rs 763 crores are the highest the firm has ever reported. The previous highest quarterly profit the company has ever reported was in the June quarter of 2012 at Rs 615 crores.Analysts presume the company's product mix has improved, which has driven the improvement in realisations.

Crompton Greaves Ltd. is another stock in focus due to quarterly results. Though the company has reported a 19% increase in consolidated net profit compared to last year's second quarter at Rs 69.59 crores, it is below analysts' projection of Rs 79.03 Crores. Crompton Greaves on Thursday also announced the demerger of its consumer products business unit into a separate company and opened the doors for foreign investors by raising the investment limit to 100 per cent of the paid-up equity share capital.

HCL Tech may gain on better-than-expected net profit at Rs 1,873 crore and also announced a dividend of Rs 6/ per equity share.

DCB Bank, formerly known as Development Credit Bank,will be in focus as it  has raised about Rs 250 crore through a qualified institutional placement to fund its growth plans.