At 9.30 am IST the Nikkei was trading up around 122 points at 9507 points, while the Straits Times was up 12 points at 3012 points. The Shanghai Composite Index was also trading firm by almost 1.1% after China's central bank cut the reserve ratio requirements.

All eyes are now focused on the crisis in Greece. Eurozone finance ministers are expected to meet later today, to decide on a further bailout package for Greece. The country needs 130 billion euros in order to meet its payment obligations. A positive outcome to the Greece crisis is likely to see market buoyancy continuing.

Indian markets are likely to follow cues from the global markets, when trading begins on Tuesday. The focus would now remain on policy actions that are expected to happen next month, including the Union Budget and the Credit Policy.

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