Pre-Market: Markets likely to open higher on firm Asian cues

Watch out for SpiceJet, MTNL, United Spirits and Mastek

Markets are likely to start on a  positive note on account of positive global cues. The SGX Nifty was up 15 points at 6,200.

Overnight, U.S. stocks ended higher on Tuesday, snapping the S&P 500's three-day losing streak to give the benchmark index its first positive session of 2014.

A sharp decline in the U.S. trade deficit and upbeat German data helped improve market sentiment as the data pointed to strengthening economic fundamentals in both the United States and Europe.

The Dow Jones industrial average rose 0.64%, to end at 16,531. The S&P 500 gained 0.61%, to finish at 1,838. The Nasdaq Composite added 0.96%, to close at 4,153.

In Asia, markets got a hand up on Wednesday after strong trade data boosted expectations for U.S. growth while a lessening of sovereign strains in Europe lifted stocks there to the highest since 2008.

Japan's Nikkei led the way with a rise of 1.1%, though some other regional markets remain out of favour as funds flock to assets in the western world.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.44%.

Stocks in Shanghai, Singapore and Taiwan all made ground.

Stocks to Watch

SpiceJet is likely to react to news that the airline has agreed to buy around 40 Boeing 737 passenger jets worth $4 billion at list prices as it seeks to modernise its fleet and climb out of the red, industry sources said on Tuesday.

MTNL is likely to see some price action as the Cabinet on January 9 is likely to discuss refund about Rs 12,800 crore to state-run MTNL and BSNL which the telecom PSUs had to pay for wireless broadband spectrum in 2010 auctions.

United Spirits may see a red tick as two lenders to Vijay Mallya’s UB Holdings have invoked their pledge of shares in United Spirits, according to a regulatory filing from the company on Tuesday.

Mastek has informed the Bombay Stock Exchange that a meeting of the Board of Directors will be held on January 08, 2014, to consider a proposal of buyback of equity shares of the Company.