Domestic stocks are likely to open on a positive note, tracking firm cues from Asian markets. The SGX Nifty futures on Singapore Exchange were trading firm at 8,362 in early trades, signaling a modest gap-up opening in Nifty here.
All eyes will be on IT stocks after IT major TCS reported its quarterly numbers post market hours of Thursday. IT stocks constitute a significant weightage in benchmarks Sensex and Nifty.
The market could take support from the overnight rise in the US stocks. The S&P 500 index had settled 0.19 per cent higher overnight, following strong gains of up to 3.5 per cent seen in European indices such as DAX, CAC 40 and FSE100 amid revived hopes of Greece eventually securing the bailout in the emergency meeting of EU leaders coming Sunday.
In the latest development on Greece crisis, European Council President Donald Tusk, who will chair the emergency summit, joined growing international calls for Athens to be granted some form of debt relief as part of any new loan deal if Prime Minister Alexis Tsipras finally delivers convincing reforms, Reuters reported.
The Greek government will seek a parliamentary vote today to endorse immediate reform commitments it is offering euro zone creditors in a race to avert bankruptcy and a possible Grexit.
Meanwhile, Chinese stocks continued to rise for the second session. Asian markets including Hang Seng, Nikkei and Kospi were up between 0.10 per cent and 1.50 per cent. Chinese stocks were up 4 per cent.
All eyes will be on IT stocks after IT major TCS reported its quarterly numbers post market hours of Thursday. IT stocks constitute a significant weightage in benchmarks Sensex and Nifty.
The market could take support from the overnight rise in the US stocks. The S&P 500 index had settled 0.19 per cent higher overnight, following strong gains of up to 3.5 per cent seen in European indices such as DAX, CAC 40 and FSE100 amid revived hopes of Greece eventually securing the bailout in the emergency meeting of EU leaders coming Sunday.In the latest development on Greece crisis, European Council President Donald Tusk, who will chair the emergency summit, joined growing international calls for Athens to be granted some form of debt relief as part of any new loan deal if Prime Minister Alexis Tsipras finally delivers convincing reforms, Reuters reported.
The Greek government will seek a parliamentary vote today to endorse immediate reform commitments it is offering euro zone creditors in a race to avert bankruptcy and a possible Grexit.
Meanwhile, Chinese stocks continued to rise for the second session. Asian markets including Hang Seng, Nikkei and Kospi were up between 0.10 per cent and 1.50 per cent. Chinese stocks were up 4 per cent.
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