Pre-market: Sensex likely to open lower

The markets could drift lower in trade today taking cues from the global markets. U-S stocks fell on Wednesday for first time in five sessions after Federal Reserve Chairman Ben Bernanke disappointed investors who had hoped for a strong signal of more stimulus.

At close, the Dow Jones industrial average was down 0.4 per cent at 12,952.07, while The Standard & Poor's 500 Index was 0.5 per cent at 1,365.68.

Asian shares were mixed on Thursday with the MSCI Asia Pacific ex-Japan dipping 0.3 per cent though the Nikkei average opened up 0.5 per cent at 9,771.

Back home, the Nifty could trade in a range of 5,350 – 5,450 today, technical analysts suggest. At 715 a-m Indian Standard Time, the SGX Nifty was trading at 5,417 levels, down 0.3 per cent.

 

Among individual stocks, ONGC will launch a share sale through an auction today that aims to raise at least Rs 12,250 crore.

Bata India reported 31 per cent rise in its Q-4 net to 45.05 crore rupees.

Muthoot Finance’s 500-crore rupee bond issue, the third this fiscal, will hit the market on Friday.

Shares of media and entertainment firm UTV Software Communications will stop trading on the National Stock Exchange from March 9, pursuant to a voluntary delisting by the company.

Sun Pharmaceutical Industries has received approval from the U-S health regulator for its generic Zyprexa Zydis tablets, used in treating mental disorder, in the American market.

Also keep a tab on auto stocks as the companies are likely to report sales figures for the month of February 2011 starting today.