Pre-market: Markets likely to open flat

The Indian markets are likely to open on a flat note following mixed global cues. Overnight, banks led Wall Street to gains on Thursday even as Europe struggled again. The Dow Jones industrial average dipped 2.72 points, or 0.02 per cent, to 12,415.70. The S&P 500 Index gained 3.76 points, or 0.29 per cent, to 1,281.05.

Asian shares edged down and the euro hovered near a 16-month low against the dollar and an 11-year low against the yen on Friday. MSCI's broadest index of Asia Pacific shares outside Japan was down 0.1 per cent while Japan's Nikkei was down 0.3 per cent.

Back home, the Nifty has consolidated in the last two trading days now seems ripe for a decisive move on the either side. On Friday, 4,780 on the upside and 4,720 on the downside are the key levels to be watched for, analysts say. At 715 am Indian Standard Time, the SGX Nifty was trading at 4,739 levels; down 14 points.

Among individual stocks, watch out for Kingfisher Airlines after its largest lender, SBI, has termed the airline as a non-performing asset for the bank.

The Finance Ministry is likely to infuse 17,000 crore into public sector banks in the current fiscal to help them meet their capital requirements and enhance lending operations. This is likely to bring the PSU banks in limelight today.

Idea Cellular could be come under pressure today on reports that the Telecom Ministry is likely to terminate its licences in six circles and impose an additional 300 crore penalty for violating roll-out obligations.

Also keep a tab on interest rate sensitive stocks after wholesale price-based food inflation fell to negative 3.36 per cent during the week ended December 24. This could prompt the RBI to slash rates in the upcoming policy review.