Pre market: Markets likely to open positive

The markets may see a green start on the back positive Asian cues.The SGX Nifty was up 37 points at 5660 at 700 am Indian Standard Time.

Wall Street slipped on Monday, pulling back from last week's gains, as retailers fell on concerns about heavy discounts at the start of the U.S. holiday shopping season and the overhang of the "fiscal cliff" kept investors wary of making big bets.

The Dow Jones industrial average fell 42.31 points, or 0.33 percent, to 12,967. The S&P 500 dropped 2.86 points, or 0.20 percent, to 1,406. The Nasdaq Composite gained 9.93 points, or 0.33 percent, to 2,977.

In the Asian markets, shares climbed for a seventh straight day on Tuesday after a deal on new debt targets for Greece and a political agreement on disbursing the next installment of aid.Japan's Nikkei continues its gaining streak with the index gaining 0.5% to 9,434.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent to its highest level in more than two weeks. Australian .AXJO and South Korean shares .KS11 both gained 0.5 percent.

STOCKS TO WATCH

Tata Steel may see some uptick after the company said it plans to commission first phase of the project with a capacity of three million tonne, by August 2014.

Praj Industries may see some action asit launched its next set of biobased products – livestock health and nutrition range, as part of its strategy of extending its expertise in biotechnology and agri processes taking into consideration an increased consumption of animal proteins in emerging economies.

Hinduja Foundries is set to see a red tick as the company posted a net loss of Rs 138.85 crore for the quarter ended September, compared with a net loss of Rs 1.07 crore a year ago.

SpiceJet is likely see some correction as AirAsia denies stake sale talks with SpiceJet.