Indian Shares May Open Higher On Positive Global Cues

(RTTNews) - Indian stocks look headed for a positive start on Friday, tracking global cues, however buying activity may remain subdued at higher levels.

With fourth quarter earnings reports set to pour in from the second week of January, investors are likely to stay mostly cautious.

Kansai Nerolac Paints has entered into Share Purchase Agreement to acquire 100% equity stake in Perma Construction Aids as on the closing date for a total consideration of Rs 29.10 crore.

In economic news, India's fiscal deficit in the first eight months of FY2018-2019 rose to Rs 7.17 lakh crore, hitting around 115% of the budgeted target for the current financial year, government data showed. The government had set a fiscal deficit target of Rs 6.24 lakh crore for FY2019.

The benchmark BSE Sensex ended up 157.34 points, or 0.44%, at 35,807.28, nearly 200 points off the day's high of 36,002.11. The National Stock Exchange's Nifty50, which scaled a high of 10,834.20, ended with a gain of 49.95 points, or 0.47%, at 10,779.80.

Asian markets are mostly higher, tracking positive cues from Wall Street where stocks rebounded after an early steep fall.

In U.S. economic news, first-time claims for unemployment benefits fell by 1,000 to 216,000 in the week ended December 22, the Labor Department data showed.

The Conference Board said its consumer-confidence index dropped to 128.1 this month from a revised 136.4 in November.
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