Pre-market: Markets likely to open on a cautious note

The Indian markets are expected to open on a cautious note tracking global cues. On the domestic front, they will also react to the reports that the government has put the proposal of allowing FDI in  retail sector on hold for now.

For the week ended December 2, the Sensex jumped 7.3 per cent to end at 16,847, while the Nifty surged 7.2 per cent to close at 5,050.

In Asia, Japanese stocks extended the biggest weekly gain in two years after the Italian premier announced 30 billion euros of austerity and growth measures, boosting optimism Europe’s debt crisis would be contained. The Nikkei rose 0.4 per cent to 8,673.66, while the broader Topix climbed 0.2 per cent to 746. At 710 am Indian Standard Time, the SGX Nifty was trading at 5064, down 29 points.

Among individual stocks, watch out for retail sector stocks such as Pantaloon Retail, Shoppers Stop as they will react to reports that the proposal of allowing FDI in retail sector has been put on hold for now.

Bank of India will also be in focus today on news that it would buy 51 per cent in Bharti AXA Investment Managers from the firm's two joint venture partners.

DLF has received the first tranche of 200 crore from IDFC, which is in the process of acquiring 100 per cent stake in a JV company of DLF called Galaxy Mercantile. The stock will react to this news development.

Also keep a tab on Ashok Leyland that reported 53.36 per cent jump in commercial vehicle sales at 7878 units in November.

Rakesh Jhunjhunwala has started the process to sell his promoter stake in Aptech, reports suggest. This could bring the stock back in focus today.