The markets are likely open higher in trade today tracking global cues. At the domestic level, however, the F&O expiry for the April series could keep the gains under check.
US stocks rallied on Wednesday, with Apple's surge giving the Nasdaq its biggest gain of the year, while the Fed chairman reassured markets that the central bank would do more if necessary to lift the economy.
The Dow Jones industrial average moved up 0.7 percent to 13,091 at the close. The Standard & Poor's 500 Index gained 1.4 percent to 1,391.
In Asia, Japan's benchmark Nikkei average opened up 0.6 percent at 9,613 on Thursday, while the broader Topix gained 0.6 percent to 815.
Back home, the Nifty is likely to seek support around 5,175 and 5,155, while it can face resistance around 5,230 and 5,250 levels, analysts say. At 720am Indian Standard Time, the SGX Nifty was trading at 5,215 – up 18 points.
Among individual stocks, SBI, ICICI Bank, Infosys, Wipro and HDFC Bank could be in focus after the Standard and Poor's lowered their rating outlook.
GMR Infrastructure, which operates the New Delhi airport, has received regulatory approval to raise aeronautical charges at the airport, helping the company stem some of its losses.
Sterlite Industries reported a 27.25 per cent decline in its consolidated net profit at Rs 1,987 crore in the fourth quarter ended March 2012.
Also keep a tab on Biocon, Idea Cellular, Bata India and Strides Arcolab as they declare their respective March 2012 quarter results.
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