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Negative opening on the cards: Pre-market
December, 20th 2010

The Indian markets may open in the red on the back of negative cues from the Asian markets which started the week in the negative. The SGX Nifty too is trading down six points at 5,953.

Japan's Nikkei index opened down 0.3%  as ongoing concern about credit problems in Europe weighed on sentiment. Hang Seng is down 0.4% and South Korea's Kospi was down 1.3% against a backdrop of tension on the Korean Penninsula, with reports that South Korea will hold firing drills on Monday.

Shanghai Composite, Jakarta Composite, Straits Times shed 0.3% each.Taiwan Weighted is flat at 8,817.

The stocks to watch for the day are NTPC on its initial talks with Qatar to source gas, Ashok Leyland may move north as it opens its UAE plant and Ranbaxy Laboratories may dip as the company recalled batches of anti-cholesterol drug from UK.

Tata Steel too is in news as the company is in negotiations to dipose its South African plant and raise $150 million in cash. Patni is another scrip to watch out for as a new investor could take charge by the end of the week as two rival bidders put their bids.

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