Pre market: Markets likely to open positive

The markets are likely to see a positive opening on the back of very positive global cues. The SGX Nifty was up 3 points at 5725 at 700 am Indian Standard Time.

U.S. equities jumped overnight after U.S. House of Representatives Speaker John Boehner voiced optimism that Republicans could broker a deal with the White House to avoid year-end austerity measures.

President Barack Obama later said he hoped an agreement can be reached before Christmas to avoid a "fiscal cliff" of tax increases and spending cuts worth $600 billion due to start in the new year and aimed at shrinking the budget deficit.

The Dow Jones industrial average rose 106.98 points, or 0.83 percent, to 12,985.11 at the close. The S&P 500 gained 10.99 points, or 0.79 percent, to 1,409.93. The Nasdaq Composite added 23.99 points, or 0.81 percent, to close at 2,991.78.

Asian shares edged higher on Thursday, mirroring U.S. and European stock rises overnight, as sentiment improved after a senior U.S. lawmaker said he was "optimistic" on reaching a budget deal before the end of the year to avoid a fiscal crisis.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent, after easing 0.3 percent on Wednesday ending a seven-day winning streak.

Japan's Nikkei stock average opened 0.7 percent higher. South Korean shares opened up 0.5 percent.

STOCKS TO WATCH

Apollo Hospitals will be in spotlight as foreign brokerage CLSA will offload its entire 6.15 per cent holding in Apollo Hospitals Enterprise by way of a block deal.

Emami may seea  green tick as the company is expecting a 20 per cent rise in winter sales, pushed by heritage and contemporary brands.

Rallis India may gain as the agro-chemicals company will start its More Pulses (MoPu) initiative in Odisha in the rabi season of next year. The initiative is aimed at scaling up pulses output.

DLF will see some positive price action as it is close to selling its international hotel chain, Aman Resorts, to a US-based investment company for Rs 1,800 crore.

AstraZeneca may see a red opening as  the Intellectual Property Appellate Board has dismissed its appeal against an earlier ruling that refused it a patent on lung cancer drug Gefitinib.