Pre-Market: Range-bound trade expected

Asian markets trading higher except NikAsian markets trading higher except Nikkei which corrected 0.7% after rallying for weekswhich slipped 0.7%

The markets are likely to trade range-bound with a positive bias tracking global cues. However, stock specific action is likely to continue with some profit booking kicking-in the second half of trade today.

I expect the current rally to sustain for a while and expect selling pressure in the month of June. Nifty may fall back to 5,900 levels,said Sonam Udasi, head of research at IDBI Capital.

Japanese shares slipped and Asian equities were broadly steady on Friday after a US Federal Reserve official said the central bank may begin to taper its asset buying this summer, lending support to the dollar.

Japan's benchmark Nikkei average opened down 0.74 per cent on Friday, while the broader Topix shed 0.58 per cent.

At 705 am Indian Standard Time, the SGX Nifty was trading at 6,196 levels – up 0.4 per cent.

JM Financial could also be in focus on reports that former CEO of Citigroup Inc Vikram Pandit and Hari Aiyar will each buy 1.5 per cent stake in the company through warrants priced at Rs 19.05 per warrant.

Among individual stocks, Orchid Chemicals & Pharmaceuticals has reported a net loss of Rs 132.27 crore for the March 2013 quarter as compared to a profit of Rs 20.55 crore a year ago.

Infosys could see some action on reports that changes in policies and laws, both domestic and foreign, and intensifying competition in the technology services market may impact its revenues going ahead.

ITC, NIIT Technologies and Sun TV Network are some of the companies that will announce their respective March quarter result today.