The market is poised for a firm start on Tuesday tracking positive Asian markets.

Foreign institutional investors (FIIs) sold shares worth a net Rs 79.59 crore on Monday, 21 May 2012 as per provisional figures. FIIs sold shares worth Rs 1069.32 crore in five sessions from 15 to 21 May 2012.

Key benchmark indices extended gains for the third day in a row on Monday, 21 May 2012, as European stocks rose on speculation European leaders will come up with a strategy to ease the region's debt crisis when they meet on Wednesday, 23 May 2012. The BSE Sensex advanced 30.51 points or 0.19% to settle at 16,183.26, its highest closing level since 15 May 2012.

Asian stocks climbed on Tuesday ahead of Wednesday's European Union summit where the leaders are expected to discuss the measures to promote growth and ways to keep Greece in the euro zone. Also expectations there are expectations that China will undertake further stimulus measures to boost growth. Key benchmark indices in Singapore, Japan, China, Taiwan, South Korea, Hong Kong and Indonesia were up by 0.64% to 1.25%.

US Stocks advanced on Monday as world leaders expressed support for Greece to stay in the euro zone. But shares of the social networking giant Facebook shares slumped in its second session after a disappointing debut. The Dow Jones Industrial Average jumped 135.10 points, or 1.09%, to 12,504.48. The Standard & Poor's 500 index climbed 20.77 points, or 1.60%, to 1,315.99. The Nasdaq Composite index rose 68.42 points, or 2.46%, to 2,847.21.