Indian shares opened higher this Thursday on global growth recovery optimism after China, world's second-biggest economy posted better-than-expected export data.
Buying was witnessed in oil marketing companies on hopes of fuel price hike by the government to reduce mouting subsidy burden.
The 30-share Sensex of the Bombay Stock Exchange rose 61.43 points and opened at 19,728.02 and the 50-share Nifty rose 27.30points at 5,998.80 in opening trades. At 900 hrs IST, the SGX Nifty was up 30 points at 6,031.
Investors were, however, cautious ahead the Infosys' Oct-Dec earnings this Friday and the European Central Bank meeting later in the day where the central bank is expected to keep interest rates steady.
Infosys, the bellwether stock of Information Technology index, will unveil its third quarter performance amid fear software maker may cut its revenue guidance for the next quarter.
On global front, U.S. stocks rose Wednesday, as investors welcomed an upbeat start to corporate earnings season. The Dow jumped 0.46% to 13,390. Nasdaq and S&P 500 also went up half a percent each.
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Asian markets too traded with a positive bias after Chinese trade data. In China, exports rose 14.1% in December from a year earlier compared to analysts forecast a figure closer to 4% while imports gained 6% indicating stronger domestic demand.
Hong Kong's Hang Seng gained 1% to 23,445, Taiwan's Weighted index rose 1% to 7,815, Singapore's Straits Times was up 0.3% to 3,231. Also China's Shanghai Composite gained 0.4% to 2,284 while Japan's Nikkei rose 1% to 10,677.
Back home, all sectoral indices were in positive with oil & gas, PSU, metals, capital goods sectors leading gains on BSE.
Among key Sensex stocks, Tata Motors gained 1.3%, ONGC rose 2%, SBI & PNB was up 1%, Wipro and Infosys gained 0.1%, Hindalco and Sterlite were up nearly 1% while Bharti Airtel declined 0.2% on BSE.
The broader markets gained too with mid-caps and small-caps rising 0.5% on BSE.
The market breadth was positive. Out of 952 stocks traded, 746 stocks advanced compared to 182declines on BSE.