Pre market: Markets likely to open positive

Positive global cues to support

The markets are likely to see a higher opening on the back of positive global cues.

According to technical analysts, the Nifty is likely to seek support around 5,870-5,855, while face resistance around 5,905-5,920.

U.S. stocks ended nearly flat on Wednesday, giving up most of the day's gains after Fed Chairman Ben Bernanke reiterated that monetary policy won't be enough to offset damage from the "fiscal cliff."

The Dow Jones industrial average slipped 2.99 points, or 0.02 percent, to 13,245.45 at the close. The Standard & Poor's 500 Index inched up just 0.64 of a point, or 0.04 percent, to 1,428.48. But the Nasdaq Composite Index shed 8.49 points, or 0.28 percent, to end at 3,013.81.

Asian shares extended gains for a seventh day on Thursday, after the U.S. Federal Reserve took new stimulus steps to bolster the economy, putting the yen under pressure as expectations grow for more aggressive easing from the Japanese central bank next week.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent to a 16-month peak, having hit successive 16-month highs since December 5.

At 700 Indian Standard Times, the SGX Nifty was up 9 points at 5,935.

STOCKS TO WATCH

L&T has bagged orders worth Rs 1,002 crore across business segments from both, domestic and international markets in last one month.

Gitanjali Group has acquired two domestic brands, Nirvana and Viola, which will help the group gain additional 15% market share.

TCS has signed a multi-year agreement with UK-based hospitality player Mitchells & Butlers (M&B).