The market may extend recent strong rally on firm Asian stocks.

Key benchmark indices jumped on the last trading session of the month on Friday, 29 June 2012 after European Union (EU) leaders agreed on a growth and bank recapitalization plan for Europe which is designed to alleviate the worst of the debt crisis gripping euro-zone. The BSE Sensex jumped 439.22 points or 2.59% to settle at 17,429.98, its highest closing level since 19 April 2012.

Foreign institutional investors (FIIs) bought shares worth a net Rs 3,046.77 crore on Friday, 29 June 2012, as per provisional data from the stock exchanges.

Asian stocks headed for their longest winning streak since March on Monday as manufacturing indicators in Japan and China beat forecasts and European leaders agreed on measures to ease the debt crisis. Key benchmark indices in Indonesia, Japan, South Korea, Singapore and Taiwan rose by between 0.02% to 0.62%. The Hong Kong market is closed today for a holiday.

U.S. stocks surged on Friday to close out a sour quarter on a high note as investors cheered an agreement by European leaders to stabilize the region's banks, a pact that helped remove some of the uncertainty that has plagued markets.