Market open higher; pull back post Fed-led correction

Markets opened in green a day after closing lower on US Federal Reserve's announcement that it will taper its monetary quantitative easing by 10-billion-a-month and vowed to keep interest rates at historic lows even for a longer duration.   

The 30-share Bombay Stock Eschange (BSE) Sensex opened 89 points higher at 21,822 and the 50-share Nifty index of the National Stock Exchange (NSE) opened at 6186 up 23 points.

Asian shares are trading mixed on Friday, though investors were reassessing the Federal Reserve's policy outlook following its decision this week to start tapering stimulus, with a more circumspect session on Wall Street overnight.

U.S. government bond prices fell overnight on emerging doubts about the Fed's commitment to rock-bottom interest rates.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent in early trade. It erased early gains to end a touch softer in the previous session following the Fed's taper decision.

Tokyo's Nikkei benchmark shed 0.5 percent, ahead of the outcome of a two-day Bank of Japan policy meeting. The index rallied 1.7 percent to its highest closing level in six years on Thursday as the yen slid.

US stocks finished mostly flat on Thursday as investors paused after a rally in the previous session, though the Dow closed at its second record high in a row.

The Nasdaq declined slightly on weakness in tech shares, though its loss was limited by a rally in Oracle Corp shares a day after the company's results.

Shares of sugar companies will be watched after the cabinet on Thursday, 19 December 2013, reportedly approved providing interest-free loan worth at least Rs 6600 crore to mills for making payment to farmers. The entire interest burden, estimated at Rs 2750 crore over the next five years, will be borne by the government, according to reports.