Pre-market: Firm opening on cards

Markets are expected to edge higher in opening trades following firm global cues as expectations increased that Greece would avoid a default. The Nifty futures on the Singapore Exchange were up 34 points, at 5,585.

Asian markets were trading higher in the morning session on improved investor sentiment. The European Union and International Monetary Fund approved 78 billion euros or $111.4 billion in additional austerity and accelerated asset sale to help Greece differ bail out. Resource related shares edged higher after commodity prices surged overnight. Japan's Nikkei Stock Average was up 1% led by exporter shares. Hong Kong's Hang Seng added 0.3%, but Shanghai Composite bucked trend and edged lower by 0.3%.

Also government's decision last week to raise prices of diesel and cooking gas has increased optimism among the investors that the  government may go ahead with its pending reforms giving fillip to the markets going forward. Kishor Ostwal, CMD from CNI Research said that if 5,500 will be maintained until expiry than markets may rise 10% in the next couple of months.