Markets open mildly higher on positive Asian cues

New Delhi: Stock markets opened mildly higher on Thursday on positive Asian cues and on healthy buying in banking, tech, FMCG and IT stocks.

The benchmark BSE Sensex recovered by 57.35 points, or 0.16 percent, at 34,558.62 in early trade while the NSE Nifty was trading up 17.25 points to 10,587.80.

The rupee, meanwhile, recovered from 14-month low to trade higher by 11 paise at 66.79 against the US dollar in opening session today on fresh selling of the dollar by exporters and banks amidst higher opening in domestic equity market.

Asian stocks rose on Thursday as robust corporate earnings helped Wall Street quell concerns about the surge in U.S. bond yields, while the dollar hovered near 3-1/2-month highs against a basket of currencies.

MSCI`s broadest index of Asia-Pacific shares outside Japan bounced back from three-week lows plumbed the previous day and gained 0.35 percent.

South Korea`s KOSPI climbed 1.2 percent, with tech shares buoyed after Samsung Electronics posted a record quarterly profit.

Australian stocks edged up 0.2 percent and Japan`s Nikkei rose 0.7 percent.

Shanghai bucked the trend and slipped 0.3 percent.

The Dow rose 0.25 percent overnight, ending a five-day losing streak, and the S&P 500 gained 0.18 percent on optimism over a spate of upbeat earnings that managed to offset jitters over rising U.S. bond yields.

With Reuters Inputs