Transaction log

Guys
Do we have any thing to open the transaction log file and see what's happening or how the transaction are moving in sql server 2k / 2k5 / 2k8 as we have in sybase or ASE.

You need a third party tool to read the tx log like: Log Explorer

Dear, this software is available free or licensed one.
can u please provide the URL

You could get a trial version from these links:
1>Red-Gate SQL Log Rescue: http://www.red-gate.com/products/SQL_Log_Rescue/index.htm
2>Lumigent Log Explorer: http://www.lumigent.com/products/le_sql.html