Pre-market: Cautious opening on cards

The markets are likely to open on a cautious note ahead of the state election results due later today. “A good showing in the state elections would be a boost for the ruling Congress party and could help revive stalled policy reforms,” analysts say.

World equity markets slipped on Monday after economic data raised expectations of a recession in Europe and global growth driver China signalled a slower economic pace ahead. The Dow Jones industrial average closed down 0.1 % at 12,963. The Standard & Poor's 500 Index fell 0.4 % to 1,364.

In Asia, Japan's benchmark Nikkei average opened up 0.06% at 9,705 on Tuesday, while the broader Topix gained 0.03% to 833.

Back home, the Nifty is expected to find support at 5,240 and 5,170 levels if it trades below 5,260 levels, technical analysts suggest. At 710 am Indian Standard Time, the SGX Nifty was trading at 5,309 levels, down 6 points.

Back home, stocks of sugar companies based in Uttar Pradesh are likely to be in focus today on hopes of getting sugarcane arrears post assembly election results.

Kavveri Telecom has raised the investment limit for FII’s to 35%.

Patel Engineering has bagged two urban infrastructure projects amounting to 377 crore rupees from the Municipal Corporation of Greater Mumbai.

Siemens has bagged a 130 crore rupee order from Maharashtra State Electricity Distribution Company.