The Sensex and Nifty are likely to open higher in trades on Monday tracking gains in the Nifty which is traded on the Singapore Stock Exchange.
The SGX Nifty was trading 0.6 per cent or 52 points higher at 8,265.
Meanwhile, market participants would closely watch out for the proceedings in Parliament today as the Land Acquisition Bill will be re-introduced in the Lok Sabha and the goods and services tax amendment bill will be tabled in the Rajya Sabha. Both the bills are of importance for the NDA government as it had promised economic reforms to kick start growth in the country.
On the global front, other Asian markets were trading on a positive note after China cut interest rates for the third time in six months on Sunday in a bid to lower companies' borrowing costs and stoke a sputtering economy that is headed for its worst year in a quarter of a century.
The People's Bank of China (PBOC) said on its website it was lowering its benchmark, one-year lending rate by 25 basis points to 5.1 per cent from May 11. It cut the benchmark deposit rate by the same amount to 2.25 per cent.
China's Shanghai Composite advanced 1.2 per cent, Hang Seng was up 0.45 per cent and Japan's Nikkei jumped 1.2 per cent.
Back home, the foreign institutional investors sold shares worth Rs 440 crore on Friday.
These shares will be in focus today:
Bank of Baroda: Bank of Baroda will be declaring its results today. Analysts polled by NDTV expect the bank to post net profit of Rs 948 crore versus Rs 1,157 crore in the previous quarter.
Havells India: Havells India will also declare its quarterly numbers today. The company is likely to post net profit of Rs 125 crore compared to Rs 136 crore in the same quarter lat year.
GSK Consumer Healthcare: GSK Consumer Healthcare disappointed the Street with its fourth quarter numbers. The company posted net profit of Rs 198 crore versus Rs 171.7 crore in the same quarter last year. The analysts were expecting the company to post better results.
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