Pre-market: Markets may open lower on weak global cues

Markets likely to open lower amid weak Asian cues and overnight losses on Wall Street

Stock markets are likely to open lower on Thursday amid weak cues from Asia and overnight losses on Wall Street.

Asian markets except Japan were trading lower on the back of weak manufacturing data from China and worries over US Fed stimulus tapering. Shares in Japan were trading higher on the back of weaker yen. The Nikkei was up 1.6%. Among other indices in the region, Shanghai Composite, Straits Times and Hang Seng were down 0.5-0.8% each.

At 8:25AM Indian Standard Time the SGX Nifty was up 16 points at 6,141.

The Dow Jones and S&P 500 extended losses on Wednesday after the minutes of the last Federal Reserve's meeting hinted that the central bank would start pruning down its monetary stimulus measures sooner-than-expected.

The Dow Jones Industrial average ended down 66 points, or 0.4%, to end at 15,900.82. The Standard & Poor's 500 Index lost nearly 7 points, or 0.4% at 1,781.37. The tech laden Nasdaq Composite Index ended down 10 points or 0.3% at 3,921.27.

Key European shares ended mixed on Wednesday. The CAC-40 ended down 4 points lower at 4,268.37, the DAX gained 9 points to end at 9,202.07, while the FTSE-100 ended 17 points down at 6,681.08

STOCKS TO WATCH


Jet Airways will be in action after its board approved sale of the Jet Privilege Frequent Flyer Programme business of the company to its arm Jet Privilege Pvt Ltd.

Gail India would see some action on plans to enter LNG business and acquiring upstream assets in Tanzania

SKS Microfinance will be in focus after the company said that the RBI classified the company as a non-banking financial company and micro finance institution (NBFC-MFI).

Reliance Ind may see some action on reports that the company has been fined $792 million for producing less than natural gas from its eastern offshore KG-D6 block.

Among other shares, sugar shares are likely to be under pressure as the pricing issues was not resolved and the UP Govt retained last year's state advised price for common variety of sugarcane at Rs 280 for the 2013-14 crushing season.