Markets open firm tracking global cues

The markets have started the day on a firm note tracking gains in Asian stocks, after jobs and manufacturing data showed mid recovery in US.

The Sensex opened higher by 110 points at 19,891 levels whereas the Nifty surged 32 points at 6,029 mark.

On Friday, US markets surged to 5-year high with the Dow closing above 14,000 for the first time since October 2007, and the S&P touched its highest since December 2007 to end at 1,513.17.

Asian markets traded firm on hopes of global growth recovery after U.S. data showed on Friday payrolls rose by 157,000 last month, with upward revisions for November and December, while the Institute for Supply Management said its index of national factory activity rose to its highest since April.

Back home, markets are likely to take cues from  advanced economic growth estimates for the current fiscal year (FY13) which will be released on Thursday and third quarter earnings of blue chips like Mahindra & Mahindra and Hindalco , analysts suggest.