Sensex Flat In Early Trading, Nifty Hovers At 14,650

Japanese shares led a rebound in Asian markets on Friday; Japan's Nikkei jumped 1.3 per cent, while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.6 per cent

The domestic markets have opened strong on the last trading day of the week on the back of positive cues from the global front. Wall Street had a buoyant session of trade overnight and Asian markets have rebounded in early trading. At 9:20 am, the BSE Sensex was trading at 48,600.05, lower by 85.10 points or 0.14 per cent and the NSE Nifty was at 14,656.15, down 37.85 points or 0.26 per cent. The broader markets are underperforming their largecap peers, with the BSE Midacap and BSE Smallcap index losing 0.6 per cent each. The domestic stock markets were shut on Thursday due to Id-Ul-Fitr. Japanese shares led a rebound in Asian markets on Friday, building on the overnight lead from investors on Wall Street. Japan's Nikkei jumped 1.3 per cent, while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.6 per cent and Australia's benchmark rallied 0.7 per cent. Wall Street advanced in a broad rally on Thursday, bouncing back from three straight days of selling, as upbeat labor market data prompted investors to buy shares that stand to gain most from economic revival. All three major U.S. The Dow Jones rose 1.38 per cent, S&P 500 gained 1.27 per cent and Nasdaq Composite added 0.7 per cent.