The Indian markets have opened on a positive note tracking global cues. By 9:30 hrs, the Sensex was up 46 points at 15,560 and the 50-share Nifty up 13 points at 4,746.
Wall Street stocks had risen for a third straight day on Thursday, leaving the S&P 500 index virtually flat for the year, after data showed new claims for unemployment benefit dropped to their lowest in three-and-a-half years
Asian stocks edged up on Friday, as signs of a strengthening economy in the United States encouraged a modest year-end rally in riskier assets.
MSCI's broadest index of Asia Pacific shares outside Japan rose 0.5 per cent, with Australian shares rising more than one per cent. Tokyo's financial markets were closed for a holiday.
Back home, technical analysts say that the Nifty is likely to seek support around 4,690 – 4,665, while it will face resistance around 4,775 – 4,800. At 920 am Indian Standard Time, the SGX Nifty was trading at 4,772 levels, up 20 points.
On the sectoral front, BSE Capital Goods index has surged by over 2%. L&T has zoomed by 2% followed by BHEL, gaining 1%.
From the auto space, Maruti Suzuki and Tata Motors have accelerated by 1% each.
BSE Power, Metal, Auto, Consumer Durable and PSU indices have spurted by nearly 1% each.
Apart from Telecom, all the major BSE sectoral indices are trading in green zone.
Tata Power, Sterlite and JP Associates have gained by nearly 2% each. Index heavyweight RIL has gained by over 0.5%.
In the broader market, the mid-cap and small-cap indices have increased nearly 1% each.
ABB has zoomed 5% as the company received Rs 4,000 crore worth of UHVDC power transmission order.
Hindustan Motors has jumped 6.5%. The company entered into Bangladesh markets for producing taxis and made JV with local group for assembly unit near Dhaka.
The overall market breadth in BSE is positive with 666 stocks advancing and 201 shares declining.