Pre-mkt: Markets likely to open soft tracking global cues

Markets are likely to trade on a soft note this morning, taking cues from global bourses. The stock exchanges will remain shut on Wednesday and Friday on account of Holi and Good Friday. Global news and the futures and options expiry later in the week, will be watched for direction.

U.S. stocks closed lower Monday, as investors worried whether Cyprus could set a precedent for other debt strapped eurozone nations. The Dow Jones slipped 64 points to 14,447.75. Nasdaq also ended in the negaive terrain.

In Asia this morning, the Nikkei has slipped 0.42% at 12,493.71 as investor sentiment was dented by worries about the implications of the Cyprus bailout deal. At 630 hrs IST the SGX Nifty is trading at 5,623 - down 26 points.

In individual stocks, DB Realty's promoter company has pledged 2.6 crore equity shares to Housing Development Finance Corporation Ltd.

NTPC will spend Rs 500 crore on the Renovation and Modernisation of its flagship 2,000 MW Singrauli thermal power plant in Sonebhadra district of Uttar Pradesh.

Tata Consultancy Services and global outsourcing services firm Capgemini have been awarded contracts worth $43 million each from Norway Post to operate and manage its applications.

Reliance Industries has spud its first exploration well in more than five years on the flagging natural gas fields in KG-D6 block as it looks for new reserves to supplement falling output.

Colgate Palmolive today said its board has approved the selling of a division to Colgate Global Business Services  for Rs 59.89 crore.