The domestic markets opened on a positive note on Friday, taking on signals from international markets . The anticipation of the US Federal rate hike dragged the traders on their toes in morning trading .
Mumbai (Maharashtra) India — The domestic markets opened on a positive note on Friday, taking on signals from international markets.However, the anticipation of the US Federal rate hike dragged the traders on their toes in morning trading, with the Sensex up 9 points to 62,579.47 level, while the Nifty up 12 points to 18,621.15 level.In Asian markets, the Nikkei Index increased 338 points while Hang Seng increased 314 points in the early morning.In European markets, the FTSE dropped 17 points, while the Refinitiv Europe Price Return increased 0.47 points in the morning trade.In US markets, the Dow Jones Industrial Average increased 183 points while the Nasdaq Composite increased 123.45 points, giving a good start in the morning.
These two factors would have a bearing on global markets and domestic markets.After reaching a record high, the domestic market was marred by significant turbulence as global markets fell due to fears of an economic recession and fears about a Fed rate hike.Recession worries weighed on IT and pharma stocks, but banks, particularly PSBs, continued to help the bourses, according to Vinod Nair, Head of Research at Geojit Financial Services.The broad Nifty of the National Stock Exchange advanced 48.85 points on Thursday, with 27 of its constituents ending in the red.