Pre-market: Market to open higher tracking global cues

At 0845 hours, SGX Nifty was trading 21 points higher at 6324 levels, indicating a positive start.

After two key market making events -- FOMC and RBI monetary policy meets out of the way, market will now focus on the derivative expiry on Thursday, rupee movement against the dollar amid other global cues.

Global sentiment will be boosted as International Monetary Fund (IMF) is set to its outlook for US economy after lawmakers in US hammered a budget deal and unvveiled a plan to taper its bond-buying program.

Market is set to start on a positive note tracking an uprick in  Asian markets which take heart from
record gains on the wall street amid festive season.

At 0845 hours, the Nifty futures at the Singapore Stock Exchange (SGX Nifty) was trading 21 points higher at 6324 levels, indicating a positive start.

Asian markets inched cautiously higher on Monday encouraged by record highs for Wall Street, though anxiety over a credit squeeze in China has weighed on shares there while adding to pressure on emerging market currencies.

Volumes were very light with Tokyo on holiday on Monday and Christmas almost here. Australia's main index added 0.3 percent while S&P 500 futures gained 0.25 percent.

MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction firmer.

Sentiment should be underpinned by upbeat data on U.S. economic growth and the resilience of stocks to the Federal Reserve's decision to start scaling back its bond-buying stimulus.

On Wall Street, the Dow Jones ended Friday up 0.26 percent, while the S&P 500 Index added 0.48 percent. Europe's broad FTSEurofirst 300 index rose 0.45 percent.

Back home, headline inflation and retail inflation will ease to 6.5 % and 9.20 % respectively in December,  owing to a fall in vegetable prices said C Rangarajan, Chairman - Prime Minister's Economic Advisory Council (PMEAC).