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Pre-Market: Flat opening in the offing

SI Reporter/Mumbai 05 Dec 12 | 07:55 AM

The markets may see a flat opening on the back of mixed global cues. At 700 am Indian Standard Time, the SGX Nifty was flat at 5,929.

Technically, the Nifty is likely to seek support around 5,875-5,865, while face resistance around 5,900-5,910.

In the international markets, U.S. stocks finished slightly lower in a quiet session on Tuesday as the back-and-forth wrangling over the "fiscal cliff" gave investors little reason to act.

The Dow Jones industrial average fell 13.82 points, or 0.11 percent, to 12,951.78 at the close. The Standard & Poor's 500 Index dipped 2.41 points, or 0.17 percent, to 1,407.05. The Nasdaq Composite Index shed 5.51 points, or 0.18 percent, to close at 2,996.69.

Asian markets are trading mixed. Nikkei, Taiwan and Kospi are trading lower whereas Hang Seng and Strait Times are trading in positive zone.

STOCKS TO WATCH

BEML may see some action as the company has bagged orders worth Rs 523 cr from Saudia Arabia and the Indian Railways.

Adani Group stocks will remain in limelight as it would start importing Australian coal from its Carmichael project by 2015.

Apollo Tyres is planning to set up a 2 x 7.5 Megawatt coal-based thermal power plant at its Oragadam facility.

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