Mumbai, India (BBN)-The Nifty and the Sensex opened and traded flat to positive after the markets were yet to return to normalcy in traded volume after the holidays.
The Nifty opened 11 points up at 8,203, while the Sensex opened 34 points up at 26,677, reports The Hindu Business Line.
At 10.03 am, the 30-share BSE index Sensex was up 69.13 points or 0.26 per cent at 26,712.37 and the 50-share NSE index Nifty was up 25.25 points or 0.31 per cent at 8,217.50.
A report by SMC Global said: “US equities saw strong gains as strong manufacturing data fuelled confidence in the US economy as US dollar extended gains.
Global equities rally extended into the New Year as data from the US, China and Europe boosted optimism for global growth.
Japanese equities gained close to 2 per cent in the first trading session of 2017 in Asia, after strong economic data fuelled gains in the US dollar against weaker yen.
Chinese shares were lower, despite the overall cheer in Asian markets.
US manufacturing expanded at the fastest pace in two years led by the biggest pickup in new orders since 2009.
The Purchasing Managers Index for December rose to 54.7, its fourth straight monthly advance, according to data.
Orders for exports rose at its fastest pace since May 2014 while the addition of staff grew at the quickest rate since mid-2015.
The positive economic data helped the US markets snap a three-day losing streak.
The S&P 500 Index posted its biggest gains in four weeks while the Dow Jones Industrial Average gained over a 100 points to head closer towards the 20,000 mark.
The NASDAQ Composite Index advanced 0.85 per cent.”
Barring Nifty Media and Nifty realty, all the broader and sectoral indices were trading flat.
Volatility was a tad down with the India Vix ruling at 15.9075.