Pre-market: Negative opening seen

ACC, Bank of Baroda in focus

Markets are likely to open with a negatie bias on account of weak global cues following comments by the ECB president on the euro and Europe's outlook. The SGX Nifty was down 15 points at 5948.5

Overnight, in US,stocks declined on Thursday, taking a step back from their recent advance.

The euro currency dropped against the safe-haven dollar and yen, spurring a retreat from risky assets such as stocks, after European Central Bank President Mario Draghi said the exchange rate was important to growth and price stability. Investors took that as a sign the bank is concerned about the euro's advance and its effect on the region's economy.

The Dow Jones industrial average was down 42 points, or 0.30 percent, at 13,944. The Standard & Poor's 500 Index was down 3 points, or 0.18 percent, at 1,509. The Nasdaq Composite Index was down 3 points, or 0.11 percent, at 3,165.

Asian shares were capped on Friday after European Central Bank President Mario Draghi noted risks still facing the euro zone economy, turning investor sentiment more cautious ahead of Chinese trade data for January due out during the session.

China's economic rebound should show signs of strengthening on Friday with the trade data for January due during the day, although distortions caused by the Lunar New Year holiday will make it difficult to gauge momentum.

The MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent, hovering near a one-week low.

STOCKS TO WATCH

Power companies will be in spotlight as it was announced yestrday that coal-based power plants with 16,000 Megawatt capacity, entailing an investment of more than Rs 80,000 crore, are unlikely to get the benefit of coal price pooling.

Public sector lender, Bank of Baroda may see some price action as the company plans to shed bulk deposits amounting to Rs 18,000 crore by the end of March, to bring stability to its funding profile and to improve interest margins.

Dewan Housing Finance Limited may see an uptick as the firm forayed into the education loan space with Avanse Financial Services, a non-banking financial company.

ACC & Ambuja may start in the red on posting a decline in its consolidated net profit for the third quarter.

Watch out for Balmer Lawrie,Bharat Forge,Cadila Healthcare, Canara Bank,Cox & Kings,Emami,GMR Infra,GVK Power,Hindalco,Mahindra and Mahindra,Panacea Biotec,Radico Khaitan,Sun Pharma,Tata Chemicals and Wyeth as they release their Q3 numbes.