Sensex Higher As Global Markets Rally On US Growth Data

Benchmark indices were trading higher following a strong global rally in stocks.

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Benchmark indices opened the day higher, as global markets surged, following strong US growth data. The Sensex was trading with gains of 39 points, while the Nifty was higher by six points in early trade.

Sensex Higher As Global Markets Rally On US Growth Data
The strong US jobs data makes an interest rate hike by the US Federal Reserve almost a certainty later in December, which could put pressure on emerging market stocks. 

Across Asia, most of the markets were higher with the Korean Kospi gaining as much as 0.50 per cent, while the Japanese Nikkei was up 0.20 per cent. Shares in Tata Power were lower after the company's results lagged estimates. Lupin on the other hand saw its share price gain ground after the company got FDA approval for generic Nuvigil tablets

Shares from the Nifty that declined in trade were HDFC, Infratel, Axis Bank and Kotak Mahindra Bank. On the other hand stocks like HDFC Bank, ONGC and Ultratech Cement were the gainers.

Ratnamani Metals was trading three per cent higher ahead of its results to be declared later today.

Meanwhile, the rupee opened higher at 68.59 to the US dollar.

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