Pre-market: Soft opening seen following US cues

SKS Microfinance, Bharti Airtel, aviation stocks to be in focus

Markets are likely to see a negative start on account of weak global cues. The SGX Nifty was flat with a negative bias at 5963 at 0640 hrs, IST.

Overnight in US, stocks fell the most in three months and a key gauge of market volatility spiked on Wednesday after minutes from the U.S. Federal Reserve's most recent meeting suggested the central bank may slow or stop buying bonds sooner than expected.

The minutes from the Fed's January meeting showed many officials voiced concern last month over potential costs of more asset purchases, suggesting that the program, known as QE, may slow before the pickup in hiring it was intended to deliver.

On Wall Street, the Dow Jones industrial average dropped 0.77 percent, to 13,927 at the close. The Standard & Poor's 500 Index fell 1.24 percent, to 1,512. The Nasdaq Composite Index lost 1.53 percent, to end at 3,164.

European shares fell as surprise dividend cuts by British insurer RSA and Lufthansa and weak results from the likes of Accor, Europe's biggest hotelier, and miner BHP Billiton weighed on sentiment.

Asian shares fell as risk sentiment was shaken by talk in global markets overnight that a hedge fund had been liquidating large positions in commodities, as well as worries the Federal Reserve could slow its bond buying programme.The MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, snapping a three-day rising streak whilewhile Tokyo's Nikkei stock average opened 0.6 percent lower.

STOCKS TO WATCH

Hindustan Zinc and Bharat Aluminium Company may see some action as the Mines Ministry has sought the Law Ministry's opinion on selling the remaining government stake in these companies.

Reliance Industries will continue to remain in spotlight as the SAT will hear tomorrow an appeal by Reliance Industries against market regulator Sebi in a matter related to rejection of its plea for consent settlement.

SKS Microfinance may see a red tick as insurance regulator IRDA imposed Rs 50 lakh penalty on the company which collected extra funds, apart from the premium, as a corporate insurance agent without proper disclosure to policy-holders.

Bharti Airtel continues to remian in news as it has challenged in court a government move to auction airwaves in a band they already use.

Aviation space is going to be abuzz on news that Asia’s leading low-fare airline AirAsia is looking to enter the Indian aviation market along with the Tata group and Telestra Tradeplace.

Alok Industries may see negative start on reports that London-based Savile Row and Alok is looking to end their 15-month partnership in India.