Pre-market: Markets likely to open on a cautious note

The Indian markets are likely to trade on a cautious note today on the back of negative global cues. On the domestic front, the November inflation data due today will also impact sentiment today.

Asian shares drifted lower and the euro floundered near an 11-month low on Wednesday after the Federal Reserve failed to take any new steps to stimulate growth and offset the chilling effects of Europe's still-unresolved debt crisis.

Wall Street stocks fell after the US central bank's final policy meeting of the year, at which the Federal Reserve noted modest improvement in the U-S economy but added that market turbulence in the face of Europe's woes posed a big risk.

Japan's Nikkei share average and MSCI's broadest index of Asia Pacific shares outside Japan both fell 0.6 per cent.

Back home, analysts suggest that the Nifty is likely to find support at around 4,720 levels, while it will face resistance at 4,883. At 710 am Indian Standard Time, the SGX Nifty was trading at 4,780; down 56 points, or 1.2 per cent.

Among individual stocks, Thomas Cook could be in focus today on reports that its parent, Thomas Cook Group Plc, has sold a hotel unit as part of a plan to trim debt by selling assets.

Network 18 could also be in limelight today on reports that it is likely to merge E-T-V’s bouquet of 11 regional channels and one Telugu news channel with itself through a share swap.

The government has approved the de-notification of Dr Reddy's Special Economic Zone in Andhra Pradesh. This could bring the stock back in focus today.

Also keep a tab on Tata Power that tied up the entire debt requirement through consortium of domestic lenders for its 25 megawatt solar power project in Gujarat.