Pre-market: Markets likely to see lower opening

Markets are set to open on weak note on account of negative global cues. At 7am, the SGX Nifty was down 19 points at 5973.50

Asian shares eased on Tuesday as investors booked profits from recent strong rallies in the face of weak U.S. data and worries that a potential political shake-up could disrupt the eurozone's efforts to resolve its debt crisis.

The MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3%. A fall in overnight U.S. equities on discouraging U.S. factory orders and euro zone jitters spurred more profit-taking after a 6% rally so far this year.

South Korean shares opened down 0.8% while Japan's benchmark Nikkei stock average also opened 1.4% lower, after scaling a 33-month high on Monday.

U.S. stocks added to losses, with the Nasdaq falling  1.5%, on Monday as the market retreated from recent gains and as data on factory orders fell short of expectations.

The Dow Jones industrial average was down 130 points, or 0.93%, at 13,880. The Standard & Poor's 500 Index was down 17.46 points, or 1.15%, at 1,495.71. The Nasdaq Composite Index was down 47.93 points, or 1.51%, at 3,131.17.

STOCKS TO WATCH

Watch for UB Holdings, UCO Bank and United Bank as the Q3 numbers are to announced today.

Steel companies will be in focus as a new steel policy is likely to be announced in a month, which is expected to iron out issues related to foreign direct investments, land acquisitions and environment clearances.