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Pre-market:: Soft opening seen following US cues

ONGC, Indian Hotels, Jindal Steel to be looked at

SI Reporter Mumbai
Markets may open in the red follwing weak global cues. Early indicator, SGX NIfty, was down seven points at 5905.5.

Overnight,the yen slid sharply against the dollar and the euro on Monday after a U.S. Treasury official voiced support for Japan's efforts to boost growth and end deflation.

In Asia, the only markets open were Jakarta Composite, Nikkei and KOSPI Composite up 0.1-2%

Wall Street and world equity markets were little changed in light volume as a lack of major economic news gave investors little reason to push stocks higher.

Stock and other markets showed little reaction to a speech from Federal Reserve Vice Chairman Janet Yellen. Seen as a potential successor to Fed Chairman Ben Bernanke next year, Yellen said the central bank's aggressive and ongoing easing of monetary policy is warranted given the state of the labor market.

The Dow Jones industrial average closed down 0.16 percent, at 13,971. The Standard & Poor's 500 Index edged down 0.06 percent, at 1,517. The Nasdaq Composite Index was off 0.06 percent, to 3,192.

STOCKS TO WATCH

ONGC may see a green tick as the company reported its Q3 numbers after yesterday's trading session where the numbers largely bet forecast even though the net was down 17.5%.

NALCO will see some action on account of announcment that disinvestment of NALCO which could fetch Rs 1,400 crore is likely to hit the market after the Budget to ensure it is not impacted by volatility in the stock-markets.

Luxury hotels operator, Indian Hotels, is set to see some upside as the third quarter standalone net profit rose 28 percent year-on-year to Rs 65 crore, even as net sales grew at a slower 4 percent to Rs 545 crore.

Q3 result anouncement today: Allcargo, Bombay Burmah,Fortis Health,Hindustan Copper,HT Media,Jindal Steel, Lanco Infratech, Motherson Sumi, Oil IndiamOpto CircuitsmPower Grid Corp,Provogue,SAIL and Triveni Engg. 

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First Published: Feb 12 2013 | 8:00 AM IST

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