Pre market: Markets likely to open positive

After closing at its highest in 19 months, the markets may add some gains in today's gains on account of positive developments in the US markets overnight. The SGX Nifty was up 13 points at 5890 at 700 am Indian Standard Time.

In US, stocks finished higher on Thursday as investors bought on sporadic dips in a market roiled by conflicting comments from Washington about negotiations on an agreement to avoid the "fiscal cliff."

The Dow Jones industrial average rose 36.71 points, or 0.28 percent, to 13,021.82 at the close. The Standard & Poor's 500 Index gained 6.02 points, or 0.43 percent, to 1,415.95. The Nasdaq Composite Index advanced 20.25 points, or 0.68 percent, to close at 3,012.03.

Asian shares edged up on expectations a deal will eventually be reached to avoid a U.S. fiscal crisis, but investors wary about taking big positions before the year-end were likely to take profits on the rises and buy on dips.

Investors will also be looking at data from Asia on Friday and Saturday for signs that global growth deterioration may be slowing down.

Japan's industrial output unexpectedly rose 1.8 percent in October, up for the first time in four months, government data showed on Friday, suggesting the impact of the global slowdown and a diplomatic row with China may have run their course.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent on Friday, after rising 1.1 percent to close at its highest level in nearly nine months on Thursday.

Japan's Nikkei stock average opened 0.5 percent higher, tracking higher global shares overnight and also drawing support from an ongoing weak yen.

STOCKS TO WATCH

Tata Motors is likely to see a red tick as it would halt production at its block at Jamshedpur for three days from today, following poor demand.

After a run up, Bhati Airtel may see some correction as The Supreme Court directed the CBI to “take action in the matter of prosecution” of the telecom companies mentioned in its report.

Bayer CropScience may see some price action as the agro-chemical firm old its property at Thane in Maharashtra for Rs 1,250 crore to Agile Real Estate.

Hester Biosciences may see some moves as it plans to launch its own range of large animal health product range soon.

Siemens too may be in the negative as the company faced with a double whammy of depleting order inflows and profits plans to cut capital expenditure.

Sundaram Clayton may see a red tick as the company said it might report a flat growth during the current fiscal and the following year would be challenging.

Nagarjuna Agrichem is likely to start in the green as the company resumed operations at its agrichemical factory in Srikakulam district of Andhra Pradesh after a major blast where atleast 18 workers were injured.