Pre-Market: Nifty likely to regain 6,500

Markets are likely to edge higher in today's deals tracking firm Asian cues with the Nifty possibly cruising through the 6,500 level.

In an otherwise, data light week, markets may witness bouts of volatility with focus on F&O expiry on Thursday.

Early indicator SGX Nifty is up 33 points at 6,543.

In Asia, Asian shares gave up earlier gains on Monday after the China HSBC flash manufacturing purchasing managers index (PMI) fell to an eight-month low in March.

The preliminary reading of 48.1 fell from February's final reading of 48.5, while the "flash" March index also showed new orders slid for a fourth consecutive month to 46.9 -- its lowest point since July 2013, while output fell to 47.3, the lowest since September 2012.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2% after the China data's release after gaining as much as 0.5%.

Japan's Nikkei share average bucked the trend and gained 1.3%.

Stocks to Watch

Cairn India & ONGC: Approved partner Cairn India’s move to raise the cost of developing the Bhagyam field in Rajasthan block by 30 per cent to $608 million, say sources.

Reliance Industries: Customers of gas supplied by Reliance Industries (RIL) from its D6 block in the Krishna-Godavari basin (KG-D6) are likely to henceforth be asked to sign a gas sales purchase agreement (GSPA) on an annual basis, compared to the current GSPA, signed in 2009 for five years.

Federal Bank: Government approval for increasing foreign investments in its paid up equity share capital from 49% to 74%

Punjab National Bank: State-owned bank may raise capital through rights issue to enhance its capital base.