Pre-market: Markets to open higher tracking gains in Asia

Markets are expected to open on a positive note tracking firm gains in Asia.

Global risk appetite surged after Federal Reserve Chairman Ben Bernanke pledged to keep monetary policy flexible in the near-term till US economy shows signs of recovery.

At 8:30AM IST, SGX Nifty was up 15 points at 5989.

Meanwhile Asian shares rose in early trades after Bernanke's remarks came as the Fed's Beige Book report of anecdotal information on business activity showed the US. economy continued to grow at a modest to moderate pace in June and early July, but housing data was disappointing.

Among the key Asian indices, Japan’s Nikkei was up 0.6% to 14,703, Singapore’s Straits Times gained 0.5% to 3,225 in the opening deals.

Overnight, US stocks rallied on expectations of stimulus.

The Dow Jones industrial average rose 18.67 points, or 0.12 percent, to end at 15,470.52. The Standard & Poor's 500 Index gained 4.65 points, or 0.28 percent, to finish at 1,680.91. The Nasdaq Composite Index  advanced 11.50 points, or 0.32 percent, to close at 3,610.00.

Domestically, companies such as Axis Bank, Bajaj FinServ  will report their April-June earnings later today

Following stocks are expected to move on the exchanges today:

About 250 workers who were terminated from service after the violence at Maruti Suzuki’s Manesar facility on July 18 last year, along with local trade union bodies, are set to hold a protest and demand the release of their jailed colleagues tomorrow. The demonstration coincides with the completion of a year of the labour strife at Maruti’s Manesar unit.

YES Bank on Wednesday dismissed fears its profits would go down following steps taken by the Reserve Bank of India (RBI) to address exchange rate volatility and curb liquidity

Allahabad Bank has no plans to increase its lending rate even as the Reserve Bank of India's (RBI) steps to address exchange rate volatility is likely to harden bond yields and increase money market rates.