Sensex opens higher on positive cues; Jet Airways up 13% on Etihad deal

The Indian equity markets opened up higher on positive global and domestic economic cues.

Sensex opened at 19330.33, up 0.79 percent and the Nifty opened at 5886.90, up 0.86 percent.

Globally, Asian shares edged higher on Thursday, supported by views that the recent run of weak global economic data will encourage major central banks to keep or deepen their monetary stimulus to bolster growth.

[caption id=“attachment_726645” align=“alignleft” width=“380”] Global equities rose on Wednesday on strong corporate earnings and speculation the European Central Bank will cut interest rates next week.Reuters[/caption]

Global equities rose on Wednesday on strong corporate earnings and speculation the European Central Bank will cut interest rates next week.

Domestically, committing to carry forward the economic reforms programme in the remaining term of UPA-II, Finance Minister P Chidambaram today said the government will take more executive actions in the next two to four months and sought cooperation of the main opposition party to push through important bills in Parliament.

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Ruling out early elections, the Minister said the government would last for 13 months more and would continue to take small but significant steps to ensure that the country achieves its potential growth rate of 8 per cent.

Stocks in news

Jet Airways opened up 13 percent after the airline sold 24 percent stake to Etihad Airways at a high premium.

Axis Bank opened up 1 percent after its Q4 net up 21.77 percent, beating forecasts.

M&M Financial Services opened up 6 percent after the company’s Q4 net rose 43 percent to Rs 346 crore.