Sensex Rallies Over 200 Points; Nifty Hovers At 15,800

Wall Street scaled new highs on Friday, with the S&P closing up for a seventh straight day, after jobs data for June showed robust hiring

The domestic stock markets have opened in the green on the back of positive global cues. Wall Street had closed at new highs on Friday and early trends on SGX Nifty had indicated a gap-up opening for the markets back home. At 9:20 am, the Sensex was trading at 52,710.63, higher by 222 points or 0.47 per cent and Nifty was at 15,798.15, up 70.70 points or 0.48 per cent. Shares in Asia-Pacific were mixed in Monday morning trade as oil prices hovered about $76 ahead of another meeting between OPEC and its allies. Investors are also looking ahead to data releases in Australia and China. In Japan, the Nikkei 225 slipped 0.5 per cent in early trade and Topix index shed 0.43 per cent. South Korea's Kospi edged higher by 0.33 per cent. Wall Street scaled new highs on Friday, with the S&P closing up for a seventh straight day, after jobs data for June showed robust hiring yet persistent weakness in the labor market that will keep the Federal Reserve from raising interest rates any time soon.