Pre-Market: Flat opening on cards

The Indian markets are likely to open on a flat note tracking global cues. US stocks erased losses to end little changed on Tuesday. The Dow Jones industrial average gained 4.24 points, or 0.03 per cent, to 12,878.28. The Standard & Poor's 500 Index dropped 1.27 points, or 0.09 per cent, to 1,350.50.

Asian Markets consolidated on Wednesday as investors waited on Greece to demonstrate its commitment to deliver harsh reforms in exchange for a vital rescue deal. MSCI's broadest index of Asia Pacific shares outside Japan inched up 0.2 per cent. Japan's Nikkei opened up 0.6 per cent.

Back home, the Nifty is likely to face resistance around 5,435-5,450, while it may seek support around 5,395-5,385 levels, technical analysts say. At 715 am Indian Standard Time, the SGX Nifty was trading at 5,443 levels, down 9 points.

 

Among individual stocks, Unitech could be in focus today on reporting 50 per cent drop in consolidated net profit for the third quarter ended December 2011.

A panel of ministers will meet on today to discuss selling shares in state-run ONGC and BHEL. This could bring the stocks back in limelight today.

Voltas is another stock which is likely to come under pressure today as the company reported a net loss of 115 crore rupees for the December quarter, as compared to a profit of 70 crore rupees in the previous corresponding period.

Berger Paints could also be in focus today on reports that the company has forayed into the construction chemicals sector and has fixed a sales target of 25 crore rupees in the first year of operation.