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Markets are likely to open higher on firm global cues. Also, markets are likely to cheer the latest move of CCEA doubling the natural gas prices.
The SGX Nifty was up 102 points at 5,776.
Overnight, US stocks climbed for a third straight day after comments from several Federal Reserve officials soothed concerns that the central bank would begin to reduce its stimulus efforts in the near future.
The Dow Jones rose 0.77 percent, to end at 15,024. The S&P 500 gained 0.62 percent, to finish at 1,613. The Nasdaq Composite added 0.76 percent, to close at 3,402.
Tracking these gains, Asian shares too advanced but caution remained about the recently volatile Chinese markets.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent while Japan's Nikkei opened up 1.3 percent.
STOCKS TO WATCH
ONGC and Reliance Industries will see an uptick as the Cabinet Committee for Economic Affairs approved the proposal to hike the natural gas price to USD 8.4 per mmbtu from April 1, 2014.
On the other hand, power and fertiliser companies will react negatively to this development.
National Fertiliser Ltd (NFL) will see some price action as CCEA approved disinvestment of 7.6 per cent of government stake.
Airtel may see some red after the company lost to Telenor in the Myanmar telecom licence race.
Indian Hotels may see some negative price action as the company may lose first right of refusal on Taj Mansingh hotel.
