The market may gain in early trade on firm Asian stocks. Asian stocks gained on Friday, 15 June 2012 as optimism the Federal Reserve will act to stimulate economic growth tempered concerns that Europe's debt crisis will worsen.

Key benchmark indices snapped two-day winning streak on Thursday, 14 June 2012 as the latest data showed inflation accelerating in May 2012 and after the government revised upwards inflation for March 2012 to 7.69% from a provisional reading of 6.89%. The BSE Sensex was down 202.63 points or 1.2% to 16,677.88, its lowest closing level since 11 June 2012.

Foreign institutional investors (FIIs) bought shares worth a net Rs 105.08 crore on Thursday, 14 June 2012, as per provisional figures from the stock exchange.

Asian stocks traded higher in choppy trade on Friday, as investors weighed expectations of policy easing ahead of this weekend's crucial election in Greece. Key benchmark indices in China, Hong Kong, Japan, Taiwan, Singapore and Indonesia rose by between 0.31% to 1.11%. South Korea's Kospi fell 0.56%.

U.S. stocks jumped Thursday after media reports signaled possible central-bank action and economic data added to the case for further moves by the Federal Reserve to bolster growth. On Thursday, the government said first-time applications for jobless benefits rose by 6,000 to 386,000 last week and consumer prices in May fell 0.3%, the sharpest drop in roughly three years.