 "Markets open higher amid firm global cues")
Markets have opened on a higher note tracking firm global cues. Moreover, Indian government has further relaxed foreign direct investment norms in the retail sector to attract overseas investments.
The Sensex has opened higher by 127 points at 19,444 points whereas the Nifty has gained by 32 points at 5,760 mark.
Japan's Nikkei share average rose to a one-week high on Friday morning, spurred by Wall Street's record-close overnight on strong US economic data and the commitment by major central banks to keep monetary stimulus in place. A stronger dollar versus the yen also buoyed sentiment, lifting exporters like auto makers and electronics manufactures.
The Dow and S&P 500 hit record closing highs on Thursday, with the S&P 500 topping 1,700 after strong data on factory growth and as major central banks said they would keep monetary stimulus in place.
Stocks were broadly higher, with all 10 S&P 500 sectors in the black. Growth-sensitive financials, industrials and consumer discretionary shares registered the biggest gains. The Dow transportation average rose 3.2%, also at a new closing high.
Meanwhile, the number of Americans filing new claims for unemployment benefits fell unexpectedly last week, touching a 5½ year low, suggesting a steadily improving labour market.
Back home, the government on Thursday approved the much-awaited relaxation of the foreign direct investment (FDI) policy on multi-brand retail trading (MBRT), by easing the three main contentious riders on such money.
These three, added as conditions to last year’s decision to open FDI in this segment, were on a mandatory 30% sourcing from small domestic industries, 50% of the investment to be in back-end infrastructure and outlets to be opened only in cities with population of more than a million.
The Sensex has opened higher by 127 points at 19,444 points whereas the Nifty has gained by 32 points at 5,760 mark.
Japan's Nikkei share average rose to a one-week high on Friday morning, spurred by Wall Street's record-close overnight on strong US economic data and the commitment by major central banks to keep monetary stimulus in place. A stronger dollar versus the yen also buoyed sentiment, lifting exporters like auto makers and electronics manufactures.
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The Nikkei jumped 1.9% to 14,266.31, after rising as high as 14,284.00, the highest level since July 26 and surpassed its 25-day moving average of 14,277.48.
The Dow and S&P 500 hit record closing highs on Thursday, with the S&P 500 topping 1,700 after strong data on factory growth and as major central banks said they would keep monetary stimulus in place.
Stocks were broadly higher, with all 10 S&P 500 sectors in the black. Growth-sensitive financials, industrials and consumer discretionary shares registered the biggest gains. The Dow transportation average rose 3.2%, also at a new closing high.
Meanwhile, the number of Americans filing new claims for unemployment benefits fell unexpectedly last week, touching a 5½ year low, suggesting a steadily improving labour market.
Back home, the government on Thursday approved the much-awaited relaxation of the foreign direct investment (FDI) policy on multi-brand retail trading (MBRT), by easing the three main contentious riders on such money.
These three, added as conditions to last year’s decision to open FDI in this segment, were on a mandatory 30% sourcing from small domestic industries, 50% of the investment to be in back-end infrastructure and outlets to be opened only in cities with population of more than a million.