Pre-market: Markets to open higher on firm global cues

Benchmark share indices are likely to rebound after losses in the previous three sessions

Benchmark share indices are likely to rebound on Monday after losses in the previous three sessions amid firm global cues.

Most Asian share indices were trading higher with the exception of Shanghai Composite which was down 0.4%. Japan's Nikkei led the gainers in the region up 1.3% on the back of a weaker yen. Further, the Hang Seng and Straits Times were marginally up 0.1% each.
 
At 8:25AM Indian Standard Time the SGX Nifty was up 24 points at 6,055.

The Dow Jones and S&P 500 ended at fresh highs on Friday after the US Fed hinted that it would continue with its monetary stimulus measures. The Dow JOnes ended above 16,000 while the S&P 500 ended above 1,800 for the first time.

The Dow Jones Industrial average ended up 55 points, or 0.3%, to end at 16,064.77. The Standard & Poor's 500 Index gained 9 points, or 0.5% at 1,804.76. The tech laden Nasdaq Composite Index ended up 23 points or 0.6% at 3,991.65.

Key European shares ended higher on Friday on better-than-expected economic data from Germany. The CAC-40 gained 25 points at 4,278.53, the DAX gained 23 points to end at 9,219.04, while the FTSE-100 ended flat with negative bias at 6,674.30.

STOCKS TO WATCH

PSU power generating major NHPC will be in focus ahead of its share buyback programme which kicks off on November 29.

Axis Bank and Jindal Steel & Power could see some action after the private sector bank replaces the steel major in Bombay Stock Exchange's benchmark index, the S&P Sensex from December 23.

Tata Power may see some action after it signed an MoU with Vietnam Government to set up the Long Phu 2 thermal power project in Soc Trang Province.

Engineers India will be in focus after the state-owned firm bagged a $139 million contract from Nigeria's Dangote Group for setting up a large refinery-cum-petrochemical complex.

Infrastructure development firm Valecha Engineering said it has bagged a Rs 176 crore contract from NHPC for civil work of a tunnel in Himachal Pradesh.

Siemens will be in focus after the engineering major reported a net profit of Rs 149 crore for the quarter ended September 30, 2013 compared with a net loss of Rs 56 crore in the corresponding quarter last year.