Markets Open Higher; Global Cues Strong

Benchmark indices opened the day higher on strong global cues, as the US Federal reserve signalled no rate hikes in 2020. US Markets closed higher on Wednesday and Dow Futures pointed higher on Thursday.

Asian markets led by the Japanese Nikkei were trading higher, though the Shanghai Composite was lower. The Sensex was up 135 points in trade, while the Nifty was up 33 points in trade.

Shares in Yes Bank, which fell a staggering 25 per cent in two trading days, managed to recover and was trading with gains of 3 per cent.

Other notable gainers were HDFC Bank and ICICI Bank. BPCL was trading higher despite Moody's changing its outlook from Baa2(Stable) to Baa2(Negative) in respect of senior unsecured debts-Foreign Currency.

Meanwhile, the rupee opened the day higher at 70.67 to the US dollar.