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Markets are likely to see a positive start following positive global trends. Market participants will keep watch on TCS third quarter numbers which is expected later in the day.
At 0830 hrs, the SGX Nifty was up 23 points at 6,349.
Meanwhile, Asian shares ticked higher on Thursday after a set of robust U.S. data and upbeat earnings from Bank of America helped squash concerns of a slowdown in the world's largest economy following disappointing jobs growth in December.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% in early trade, though holding below its 200-day moving average.
In Tokyo, Nikkei futures put on 0.3%, pointing to a slightly firmer open for the Nikkei benchmark, which logged its best one-day rise in four months on Wednesday after suffering its worst session in five months the day before.
U.S. stocks rose on Wednesday, with the S&P 500 climbing to an all-time closing high after strong earnings from Bank of America and data signaled that the economy was improving.
In the latest economic data, the seasonally adjusted Producer Price Index rose 0.4% last month, the biggest increase since June, although inflation pressures remained benign. The Federal Reserve Bank of New York's "Empire State" index of general business conditions climbed to its highest level in 20 months.
The data reassured investors that the economy is able to stand on its own even as the Federal Reserve begins to slow its massive stimulus programs, which contributed to huge equity gains in 2013. Wall Street's rally on Wednesday erased some of 2014's early weakness, putting the S&P 500 near the break-even level for the year.
In its latest Beige Book report on business activity, the Fed said the economy grew at a moderate pace from late November through the end of 2013, with some regions of the country expecting a pickup in growth.
The Dow Jones industrial average rose 0.66%, to end at 16,482. The Standard & Poor's 500 Index advanced 0.52%, to close at 1,848. The Nasdaq Composite Index gained 0.76%, to finish at 4,215.
Stocks to Watch
TCS, Axis Bank, Mindtree, Bajaj Auto, DB Corp, LIC Housing Finance, Rallis India are all expected to declare the Q3FY14 numbers.
Telecom scrips may see a red tick as foreign brokerage houses have downgraded some of the frontline names
