Stock markets open higher amidst global volatility; Sensex rises 167 points

Major gainers that supported the recovery were Infosys, HDFC LTD, Axis Bank, Maruti Suzuki, Yes Bank, Dr Reddy's, SBI, Hero Motocorp and M&M.

Stock markets open higher amidst global volatility; Sensex rises 167 points

Mumbai: Amidst volatility in global markets, Indian stock markets on Thursday opened higher on buying in realty, IT, capital goods and banking stocks.

The 30-share index rose by 167.73 points, or 0.49 percent, to 34,250.44 opening trade. All the sectoral indices led by realty, IT, healthcare and banking were trading in the green with gains of up to 1.86 percent. Also, the NSE Nifty rose 42.35 points or 0.40 percent to 10,519.05.

Major gainers that supported the recovery were Infosys, HDFC LTD, Axis Bank, Maruti Suzuki, Yes Bank, Dr Reddy's, SBI, Hero Motocorp and M&M, gaining up to 2.08 percent.

The gauge had lost 2,200.54 points in the previous seven sessions.

The rupee, meanwhile, depreciated 10 paise to 64.38 against the US dollar in opening trade today due to increased demand for the US currency from importers amid fresh foreign funds outflow.

The equity markets on Wednesday had traded flat after the Reserve Bank of India in its final bi-monthly monetary policy review of the fiscal kept the key interest rate unchanged at six percent for the fourth time in succession, citing concerns about the inflationary push by rising global crude oil prices.

On Thursday, Asian indices were mostly showing a positive trend. Japan's Nikkei 225 was trading in green, up by 0.40 percent, Hang Seng up by 0.01 percent while South Korea's Kospi was up by 0.52 percent. China's Shanghai Composite index was, however, quoting in red, down by 0.17 percent.

Nasdaq closed in red, down by 0.91 percent while FTSE 100 was up by 1.90 percent at the closing on Wednesday.

With Agency Inputs

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