Markets are likely to see a flat opening owing to muted global cues. Also, markets will be reacting to the IIP and CPI numbers which were released post market hours yesterday.

At 0830, the SGX Nifty was up 12 points to 6,565.

Industrial production expanded by 0.1% in January even as manufacturing woes continued, official data showed on Wednesday. CPI inflation came in better than expected, easing to 8.1% in February from 8.8% in January.

In Asia, shares were on the defensive on Thursday as nervous investors tried to limit their exposure to risk, ahead of a batch of key Chinese economic data that may offer clues about the extent of any slowdown.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3% but was still near its lowest levels in two weeks, a day after both European shares and emerging market shares fell to one-month lows.

Japan’s Nikkei rose 0.3% and Australia’s benchmark was up 0.4%, led by banks and gold stocks after the precious metal surged 1.3% to a six-month high on China economy and geopolitical fears.

Overnight, US stocks finished little changed on Wednesday, with the Nasdaq up for the first session in five, as investors grappled with the evolving situation in Ukraine but shrugged off concern over weakness in China’s economy.

The Dow Jones industrial average fell 0.07%, to 16,340, the S&P 500 gained 0.03%, to 1,868 and the Nasdaq Composite added 0.37%, to 4,323.

Stocks to Watch

Infosys: Continues to see weakness in client spending throughout the current quarter ending March 31, 2014, and the company might only be able to meet the lower end of its annual revenue growth guidance for FY14.

GVK Energy:  Private equity investors likely to get stake in parent company GVK Power & Infrastructure, as part of the group’s ongoing restructuring exercise

Tech Mahindra: BSE and NSE have given approval for the merger of Mahindra Engineering Services with Tech Mahindra saying that the amalgamation does not violate securities laws norm.

Coal India: Officers will go on a three-day strike from Thursday to demand for a settlement of pay-related issues, in a move that could cut some of its 1.5 million tonne-per-day output and tighten domestic supplies.