Mumbai, Nov 14: Indian stock markets opened higher with Inflation dropping and US stock markets closing on positive note.
Sensex surged 280 points on opening bell and was at quoted at 9817.48 mark while Nifty was up 79 points at 2919.90 mark. Asian markets rose on Friday, Nov 14, snapping a four-day losing streak, as investors stepped in to snap up battered stocks. Key benchmark indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were up by between 0.33 per cent and 3.57 per cent.
Meanwhile, all eyes are on the world leaders, who are meeting in Washington later today to discuss a way out of the current global downturn. Prime Minister Manmohan Singh, who left yesterday for the G20 meet, is ready with his recommendation to tackle the global meltdown.
Bharti Airtel was up by 5.68 per cent at Rs 667.10, Reliance Communications 4.54 per cent at Rs 225.50, Reliance Infrastructure 3.94 per cent at Rs 562, Sterlite Industries 3.78 per cent at Rs 246, and Jaiprakash Associates gained 2.58 per cent at Rs 79.10.
Reliance Industries advanced by one per cent at Rs 1,173.80 on 2.26 lakh shares.
Banks, realty and auto shares advanced after inflation declined to 8.98 per cent in the week ending November one, raising hopes that Reserve Bank of India may cut rates and infuse more liquidity into the economy. Among auto shares, Mahindra & Mahindra was up by 1.37 per cent to Rs 346.90, Tata Motors rose by 1.45 per cent at Rs 152 and Maruti Suzuki India gained 0.38 per cent to Rs 562.