Markets are likely to open higher tracking firm global cues. Investors will also cheer the appointment of Raghuram Rajan as 23rd RBI Governor who has raised hopes of new action plans to revive the economy.New Reserve Bank of India (RBI) chief Raghuram Rajan kicked-off his term with a bang yesterday, announcing a spate of measures to support the embattled rupee and unveiling a raft of steps to liberalise financial markets and the banking sector.
The rupee is expected to strengthen today.
US Stocks rose for a second day on Wednesday as a possible military action in Syria was seen as limited and strong auto sales lifted investor confidence in the U.S. economy.
The Dow Jones industrial, Standard & Poor's 500 and Nasdaq Composite Index was up 1%.
Asian stocks edged up on Thursday following a positive lead from Wall Street, while fresh measures to shore up the rupee unveiled by India's new central bank chief could set a positive tone for emerging markets throughout the region.
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2 percent, Tokyo's Nikkei put on 0.3 percent, extending Wednesday's 0.5 percent gain.
At 8:00 am Indian Standard Time the SGX Nifty was up 110 points at 5,551.
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