Markets open higher

Markets open higher on back of positive cues from Asia, Sensex has risen 150 points to 19,573 and the Nifty has risen 50 points to 5877.

The US markets ended marginally higher on back of mixed outlook from companies like FedEx and Boeing. The Dow Jones Industrial Average ended up 22 points, at 10,594, Nasdaq ended higher by 2 points, at 2303 and S&P500 index ended higher by 0.41 points at 1,124.

Also Asian indices are also trading higher driving the MSCI Asia Pacific index up for the third week. Technology shares spiked up after Research In Motion Ltd. and Oracle Corp. reported better than expected results. The yen weakened, driving Japan’s exporters higher. Nikkei and Hang Seng are each trading higher by almost 1%, and Shanghai Compisite is almost flat in early trades.

Broader markets are trading firm, the midcap and smallcap indices have risen 0.7% and 0.6% each. 

BSE Auto is leading the sectoral pack up 1.1% followed by Realty index up 1.1%. Ashok Leylad is up 3.2%, at Rs 77, Maruti is trading higher by 1.24%, to Rs 1404, Mahindra & Mahindra has risen 1.1% to Rs 1038 from the Auto Pack. From the realty space, Orbit Cop is the top gainer, up 2.2% to Rs 128, Parsvanath and DLF are also trading higher by almost 2% each.

Consumer Durables index is a laggard in trade, down 0.36%.