Indian benchmark indices opened higher on Friday on strong Asian cues. Asian peers rose on the reports that the Central Banks around the globe may take measures to boost economic growth, which has been affected by the European debt crisis.
In Asia, the Nikkei 225 was trading up by 0.39%, while the Hang Sang was higher by 1.32%. The Shanghai Composite was trading high by 0.32%.
Domestically, the Sensex was trading at 16,771 points, higher by 94 points and the Nifty was seen trading at 5,083 points, higher by 29 points at 9.45 am IST.
On Thursday, markets reacted negatively after inflation data came higher than expected, leaving less scope for a RBI rate cut.
On the sectoral front on BSE, all the sectors were trading positively. PSU, Consumer Durables, Bankex and realty leading the rally. The gainers in morning trade were IDFC, ACC, ONGC and Jaiprakash Associates.
Stocks that failed to lure investors in early trade were Bajaj Auto, Bharti Airtel, BHEL, Cipla.