Pre-market: Sensex likely to open flat

The markets are likely to witness a lacklustre opening, owing to a fall in the Asian markets. The Singapore Nifty futures are trading at 5,121, up merely a point.

Overnight, US markets rallied and maintained the momentum through out the trading session,as concerns over Europe's debt crisis eased. The Dow Jones industrial average surged 276 points at 11,415. The S&P 500 closed at 1,199 adding 33 points, and the Nasdaq Composite jumped 75 points at 2,549. Indian stocks listed on the Nasdaq reflected the firm trades witnessed at the US bourses. HDFC Bank, ICICI Bank, Wipro and Infosys were up nearly 3-4% each.

Meanwhile, the Asian markets opened higher with most indices gaining nearly a percent each. However, some of the indices went on to pare part of their gains. The Hang Seng index has shed 0.7% at 19,900 and the Shanghai Composite index had shed 0.1% at 2,513.The Nikkei is at 3,312, up 0.7%.

On Wednesday, the Foreign Institutional Investors were net buyers of Rs 262 crore in cash and the Domestic Institutional Investors were net sellers of Rs 81 crore.

In the derivatives segment, FIIs were net buyers of 849 crore. They were net buyers of 282 crore in the index futures and of Rs 145 crore in index options. They also bought shares worth Rs 459 crore in the stock futures and  sellers of Rs 37 crore in stock options.

The markets are, further, likely to react to the US President's speech, due later today.The President is expected to highlight ways to boost hiring. Also due today is the Federal reserve Chairman Ben Bernanke's speech in Minnesota, where he is likely to lay out ways in which the US central bank is to revive the economy.

Commenting on the markets back home, Ashish Chaturmohta, IIFL Private Wealth said, "Nifty future, yesterday, closed near its 1st resistance of 5120 levels, now it caps 5240 as its next crucial resistance, sustaining above which can test 5320-5330 levels on upside. On the downside, 5080 caps as an immediate support below which it can move towards 5020-5000 levels."

Aurobindo Pharma is likely to be in the lime-light today as it is reported to have joined a 50:50 joint venture in Russia to manufacture and sell the pharmaceuticals in the markets of Russia, Belarus and Kazakhstan. Other stocks to watch out for include, Wockhardt, Everonn Education and Odyssey Corporation.