Pre-mkt: Markets likely to open lower on weak global cues

Indian stocks are likely to open lower in early trades today tracking weak global cues.

Benchmark US share indice ended over 1 per cent lower amid selling pressure in late trades on Friday. The Dow Jones Industrial Average ended down 209 points or 1.4% at 15,116. S&P 500 ended down 24 points or 1.4% at 1,631 and Nasdaq Composite ended down 35 points at 3,456.

Stocks in Asia were trading weak today with Japan's benchmark Nikkei down over 2%. South Korea's KOSPI was also down 0.4 per cent and Singapore's Straits Times eased 0.8%.

At 700 hrs Indian Standard Time the SGX Nifty was down 16 points at 5,972.

According to technical experts, The NSE Nifty may look to seek support around the lower-end of the Bollinger Band on the daily charts around 5,950-odd levels. Also, the early May lows around 5,930-odd levels may act as a support level in the near term. However, the overall bias is likely to remain negative as long as the index sustains below 6,050-level. Today, the NSE index is likely to seek support around 5,935-5,905, while face resistance around 6,035-6,065.

Infosys will be in action after co-founder NR Narayana Murthy was re-inducted into the company's board as executive chairman and additional director.

Essar Ports will see some activity after the company said it has won the bid for development of 3 iron ore berths at Vishakapatnam Port on BoT basis for a period of 30 years.

Central Bank of India may gain after the company reported jump in net profit to Rs 1,067 crore for the fiscal ended March 31, 2013 compared with Rs 613 crore in the last fiscal.

Sterlite Industries may firm up after the company said that the National Green Tribunal has allowed its Tuticorin Copper Smelter to recommence production.

Maruti Suzuki may react after the company reported 14% drop in total sales for the month of May.