Pre-market: Cautious opening on cards

Tata Power and Emami in focus

The markets are likely to trade sideways and perhaps drift lower in trade today tracking mixed global cues. Index of Industrial Production (IIP) IIP data for the month of June due later in the day today will also keenly watched.

Global shares lost steam on Wednesday and traded little changed, while the euro fell as a lack of details prompted investors to tone down optimism for early central bank action to tackle the euro-zone debt crisis.

The Dow Jones industrial average and the Standard & Poor's 500 Index ended flat.

Asian shares inched up on Thursday with investors turning to data from China for any policy implications on future stimulus, amid guarded optimism for decisive action by Europe to tackle the euro zone debt crisis and global growth slowdown.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 per cent, while Japan's Nikkei stock average opened down 0.1 per cent.

Back home, the Nifty can seek support around 5,320 – 5,310 and face resistance around 5,355 -5,365 levels, technical analysts suggest. At 705 am Indian Standard Time, the SGX Nifty was trading flat at 5,358 – up 4 points.

Among individual stocks, Tata Power, Emami, Indiabulls Real Estate are some of the news-based counters that you need to keep a tab on.

Den Network, Eicher Motors, Gati, GMR Infra, HPCL, Indian Oil, Kingfisher Airlines, Tata Motors and Tech Mahindra are some of the prominent companies that will declare their respective June quarter results today.