The market may extend recent gains on firm Asian stocks.

Key benchmark indices edge higher in range bound trade to register their highest closing level in almost 1-1/2 week on Monday, 30 April 2012. The BSE Sensex jumped 131.47 points or 0.76% to settle at 17,318.81, its highest closing level since 20 April 2012.

Foreign institutional investors (FIIs) bought shares worth Rs 479.53 crore on Monday, 30 April 2012, as per provisional data from the stock exchanges.

The stock market remained closed on Tuesday, 1 May 2012, on account of Maharashtra Day.

Asian shares edged higher on Wednesday after strong U.S. factory activity data eased concerns about a loss of momentum in the world's biggest economy. Key benchmark indices in China, Hong Kong, Singapore, Taiwan and South Korea rose by between 0.01% to 1.43%. Indonesia's Jakarta Composite fell 0.02%. Japanese financial markets will be closed for public holidays on Thursday and Friday.

U.S. factory activity grew in April at the strongest rate in 10 months, with the Institute for Supply Management's index rising to 54.8 from 53.4 in March, beating forecasts. ISM's gauge of employment also rose to its highest level since last June, coming ahead of the government's nonfarm payrolls report due on Friday, which is forecast to show the economy added 170,000 jobs in April.