The markets are likely to trend higher in trade today tracking global cues. The Dow closed at its highest level in more than four years on Tuesday after US manufacturing expanded at a faster pace than expected in April, easing jitters about a slowdown in the economic recovery. The Standard & Poor's 500 Index rose 0.6 per cent to 1,406 levels.

Asian shares also edged higher with MSCI's broadest index of Asia-Pacific shares outside Japan gaining 0.2 per cent, while Japan's Nikkei stock average opened up 0.5 per cent.

Back home, the Nifty is likely to seek support around 5,225-5,210, while it may face resistance around 5,270-5,285, technical analysts suggest. At 710 am Indian Standard Time, the SGX Nifty was trading at 5,261 levels – up 22 points.

Among individual stocks, Pantaloon Retail will be in focus on reports that Aditya Birla Nuvo will acquire a majority stake in the retail chain.

Hindustan Unilever has reported a 24 per cent growth in net profit for the quarter ended March 2012.

Watch out for auto companies as they react to their April sales numbers.

NMDC by July is looking to acquire stake in two assets abroad, including a 26 per cent stake in Brazilian iron-ore company.

The Empowered Group of Ministers has paved the way for the start of the spectrum auction process by approving the selection process of an auctioneer.

Also keep a tab on Bharti Airtel, Hero MotoCorp and PNB Gilts as they will announce their respective March quarter results today.

Source : business-standard.com