Pre-market: Shares seen opening down

Negative global cues to weigh on investors' sentiments

In the political front, Narendra Modi performed a hat-trick retaining power for the third time in Gujarat and propelled himself as a strong contender in the Prime Ministerial race in 2014.

Technically, the Nifty is likely to seek support around 5,895-5,880, and face resistance around 5,935-5,950.

On the global front, US stocks sold off late in the day to close at session lows on Wednesday as talks to avert a year-end fiscal crisis turned sour, even as investors still expect a deal.

The Dow Jones industrial average dropped 98.99 points to 13,251.97. The S&P 500 lost 10.98 points to 1,435.81. The Nasdaq Composite fell 10.17 points to 3,044.36.

Asian markets ae trading mixed. Hang Seng is down by 0.4 pct whereas Nikkei is marginally up.

At 700 am Indian Standard Time, the SGX Nifty was trading at 5,895 – down 34 points.

STOCKS TO WATCH

Amansa Investments offloaded its entire 5.96% stake in Mahindra Lifespace Developers.

L&T Finance has picked up 11.41% stake equivalent to 32.93 lakh shares in PVR Ltd.

Sanofi's unit Merial said it has signed an agreement to buy the animal health business of India-based drugmaker Dosch  Pharmaceuticals.