NEW DELHI: The 50-share Nifty index is expected to open higher on Friday tracking positive global cues while investors will keep a close eye on much awaited MCX IPO, which is all set to make its debut on the domestic bourses today.

MCX, the first Indian exchange that will be listed on the bourses, is expected to list at a 35-40% premium to the IPO price of Rs 1,032 apiece, as per the rates in the unregulated grey market.

MCX shares, which were to be listed only on the BSE, will also be available for trading on the National Stock Exchange. But, the hour-long special pre-open session, starting at 9 am to discover the ‘equilibrium price’ through a call auction will be available only on the BSE.

The 20% circuit filter, starting 10 am, will be based on this equilibrium price. MCX is the first company to be listed after Sebi introduced circuit filters on the listing day.

The National Stock Exchange’s Nifty ended a choppy session on a flat note on Wednesday due to lack of conviction amongst investors following dismal performance of Congress party in Uttar Pradesh assembly elections.

According to dealers, the UPA government’s economic reforms might be pushed on back burner and crucial decisions like fuel price hike may be delayed as well. The market is likely to remain choppy and consolidate ahead of Reserve Bank of India’s policy meet and Union Budget.

Overnight, US stocks rose on Thursday after Greece moved closer to a bond swap deal with private creditors to avoid a messy default. Preliminary results of Greece’s bond swap are expected at 0600 GMT.

The Dow Jones industrial average gained 70.61 points, or 0.55 percent, to 12,907.94 at the close. The Standard Poor’s 500 Index rose 13.28 points, or 0.98 percent, to 1,365.91. The Nasdaq Composite Index advanced 34.73 points, or 1.18 percent, to close at 2,970.42.

According to media reports, Greece was able to convince enough private bondholders to accept a restructuring on Thursday, moving it closer to unlocking aid needed to avoid a disruptive default.

Asian shares rose on Friday on signs Greece had successfully closed its bond swap offer for private creditors, key to securing an international bailout. Japan’s Nikkei average rose as much as 1.5 percent to a fresh seven-month high.

“Ahead of the results, officials said there had been a strong take-up of the offer, which would open the way for Athens to secure funding needed to avoid a default,” said a Reuters report.

Gold was hovering around $1,700 an ounce, as a strong response of Greece’s bond swap offer lifted sentiment across financial markets while London copper rose for a third day in a row.

“The ECB kept interest rates unchanged as expected on Thursday and lowered its euro zone growth forecast, but noted that with rises in energy prices, inflation rates are now likely to stay above 2 percent in 2012, with upside risks prevailing,” said a Reuters report.

Japan’s Nikkei 225 index was trading 1.2% higher at 9884.62 and Hong Kong’s Hang Seng index was trading higher at 20,957.12, up 0.2%. South Korea’s Kospi index was trading 0.2% higher at 2006.45. China’s Shanghai index was trading at 2426, up 0.2%.

At 08:00 AM, Nifty India stock futures in Singapore were down 7 points at 5,310.00, indicating a soft opening in the domestic market.

Stocks to watch:

Kingfisher Airlines will be in focus after the state-owned Hindustan Petroleum Corp Ltd (HPCL) today resumed oil supplies to the airlines after the beleaguered airline agreed to pay for daily fuel off-take.

Media reports also quoted the International Air Transport Association (IATA) has suspended Kingfisher Airlines from its account settlement system due to non-payment of fees, dealing a fresh blow to the carrier as it seeks funds to stay aloft.

Mahindra Satyam will be watched after the company has acquired Delhi based BPO firm vCustomer’s International operations for $27 million. This is the first 100% acquisition by Mahindra Satyam since it became part of Mahindra Group.

Hindalco Industries Ltd will be in focus after the shareholders of the Aditya Birla Group flagship company approved the issuance of 1.5 million warrants to promoter group entities on preferential basis.

Hexaware Technologies Ltd will be eyed ahead of LT board meet to pass an enabling resolution that will allow the diversified conglomerate to explore inorganic opportunities for growth.

MTNL will be in focus after the Life Insurance Corporation (LIC) of India wants to divest its 18.81 per cent stake in state-owned Mahanagar Telephone Nigam Ltd (MTNL) through private placement of shares.