Markets open on buoyant note, Sensex nearing 38,000 mark

Mumbai: Equity benchmark indices opened higher on Friday following positive cues from global markets, setting away for the longest stretch of weekly gain in over six months.

At 11:15 am, the BSE S&P Sensex was up 244 points to 37,999 while the NSE Nifty 50 was up 76 points at 11,419.

Banking, realty, IT, financial services and pharma stocks traded higher by nearly one percent while FMCG, media, and metal were under pressure.

Among the gainers were Kotak Mahindra Bank, IndusInd Bank, ICICI Bank. Coal India, Hindustan Lever, and Airtel were in the red on National Stock Exchange.

The most active stocks were heavyweights like Reliance Industries, IndusInd Bank, Kotak Mahindra Bank, and Yes Bank.

Meanwhile, Asian stocks showed buoyancy following reports of progress in US-China trade talks.

Another factor which boosted sentiment was British members of Parliament voting to delay a messy exit from the European Union.

The move plunges the Brexit process into chaos, just before Britain is due to leave the bloc on March 29.