Pre-Market: Shares may open lower, SGX Nifty drops

Markets may continue to struggle in today's trade on account of weak global cues as investors fretted as to how much the US Federal Reserve will cut its monthly stimulus at next week's monetary meeting.  At 8am, the SGX Nifty was down 15 points at 5,855.

However, the negative sentiment may be contained as India's industrial production unexpectedly rebounded in July while consumer inflation cooled last month, offering some relief for policymakers who have been battling the country's worst economic crisis.

Industrial output rose 2.6 percent in July from a year earlier, its first expansion in three months, lifted by a robust rebound in capital goods production.

Retail inflation slowed to 9.52 percent in August from 9.64 in July, data showed on Thursday, although private economists were skeptical that it pointed to a better overall outlook.

Overnight, U.S. stocks slipped, ending seven straight days of gains by the S&P 500 index as a drop in precious metal prices dragged mining shares lower.

Economic data showed first-time weekly claims for state unemployment benefits, the last major reading on the labor market before the Fed's meeting, fell to the lowest level since 2006, but the picture was incomplete because two states did not process all their claims.

The Dow Jones industrial average was down 0.17 percent, at 15,301. The Standard & Poor's 500 Index was down 0.34 percent, at 1,683. The Nasdaq Composite Index was down or 0.24 percent, at 3,716.

Asian shares slipped and the dollar held to overnight losses against the yen. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 percent, further pulling away from a three-month high and on track for a second day of loss after a 10-day winning streak.

In Tokyo, the Nikkei share average added 0.2 percent.

Back home, rate sensitives may see some price action as inflation eased and capital goods will be in spotlight today, on account of pickup in output in July.

Indian Hotels may see some positive moves as the company is planning to restructure its international business to make it more tax-efficient.

Relaince Industries is likely to be under pressure as the Directorate General of Hydrocarbons has put five of RIL’s discoveries on the block. The five discoveries made by RIL have reserves of 805 billion cubic feet.