Pre market: Cautious opening on cards

India's current account deficit data eyed

Markets may see a volatile trading session this week as all eyes will be trained on India's current account data for July-September which is expected today. Some of the other announcments traders will be looking out will be any official announcement on a hike in diesel prices, as reports suggest plans to gradually raise fuel prices. Also, the December PMI data will weigh on the markets.

On the international front,developments over the U.S. "fiscal cliff" loom large, with failure to clinch a deal hurting global equities.

In Asia, the markets were trading mostly in the red with Shanghai Composite being the only exception which added 0.5% in today's opening trades. Hang Seng, KLSE Composite,Straits Times were down 0.2-0.6 percent.

The SGX Nifty was up 3 points at 5960 at 715 am Indian Standard Time.

STOCKS TO WATCH

NMDC may see some action after the state-owned miner said it will decide on prices for January at a board meeting on Wednesday.

HDFC Bank will be in spotlight as the bank decided to cut its benchmark lending rates by 0.1%, making loans cheaper for its borrowers in the new year.

Kingfisher Airlines continues to remain in news after directorate general of civil aviation asked the airlines to to seek assurance from the United Breweries Group on funding of Rs 652 crore, in line with the carrier’s revival plan to start limited operations.

Essar Ports will be in focus as the Chennai Port Trust has asked Essar Ports, the sole bidder for the Rs 3,683-crore container terminal project at Chennai, to reconsider its offer that had offered a revenue share of 5.25 percent