Markets open at new 2016 high; Sensex up over 400 points

July 11, 2016 09:42

Markets opened higher, amid firm global cues, after an encouraging US jobs data signalled that growth in the world's largest economy is picking up pace.

At 9:43am, the S&P BSE Sensex was up 447.10 points at 27,574 and the Nifty50 topped the 8,400 level for the first time high in 10-months was up over 126 points at 8,451.

"The Nifty has to cross and hold above 8350 zones to start a fresh up move towards 8420 then 8450 zones while on the downside holding below 8285 may drag it towards 8242 then 8220 zones," Anand Rathi Securities said in a technical note.

Foreign institutional investors were net buyers in equities to the tune of Rs 331 crore on Friday, as per provisional stock exchange data.

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