The Sensex and Nifty are expected to open higher tracking negative trend in Asian markets which held steady, while the euro struggled near five-month lows set a day earlier following a report that Italian populist parties trying to form a coalition could ask the European Central Bank to forgive 250 billion euros of debt.

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Back home, amid jockeying for power in Karnataka, the Supreme Court early on Thursday after a midnight hearing refused to stall the swearing-in of BJP leader BS Yeddyurappa as Karnataka's new Chief Minister. The court, however, sought the communications which Yeddyurappa had written to Karnataka Governor informing him his election as BJP legislature party.

Yeddyurappa would take the oath as the Chief Minister of Karnataka on Thursday at 9.30 am at Raj Bhavan. 

On Thursday, the Sensex closed at 35,387.88, down by 156.06 points, or 0.44 per cent. The Nifty settled 60.75 points, or 0.56 per cent lower at 10,741.10.

Foreign portfolio investors (FPIs), who have been net sellers in the past few sessions, sold shares worth a net Rs 518.47 crore, while domestic institutional investors (DIIs) bought shares worth Rs 531.33 crore yesterday, according to provisional data.

Here are key intraday trading tips for today's trade:

1) JK Lakshmi Cement (Buy)

Target: Rs 395
Stoploss: Rs 380

Profit comes in at Rs 32.7 crore from Rs 19.7 crore
Income increased from Rs 897 crore to Rs 807 crore
EBITDA at Rs 127 crore from Rs 98 crore
EBITDA margin at 14.2 per cent from 12.1 per cent
Approval to raise Rs 500 crore funds

2) CEAT (Buy)

Target: Rs 1432
Stoploss: Rs 1402

Buying at lower levels in tyre stocks
Hourly charts show a pullback expected

3) Divis Labs (Buy)

Target: Rs 1186
Stoploss: Rs 1157
Inspection completed at Telangana unit
No observations or Form 483 issued

4) GSFC (Buy)

Target: Rs 136
Stoploss: Rs 129

Revenue up 33 per cent at Rs 2,055 crore
Ebitda up 97 per cent at Rs 227 crore
Margin at 11 per cent versus 7.5 per cent

5) Prataap Snacks (Buy)

Target: Rs 1405
Stoploss: Rs 1370

Revenue up 30 per cent at Rs 279.5 crore
Ebitda up 75 per cent at Rs 21 crore
Margin at 7.5 per cent versus 5.6 per cent

(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)