The share market opened firm on Friday. The Sensex was up 89.41 points at 19659.85 while the Nifty gained 32 points at 5940.95. Global cues have also been supportive, US market closed at another record high as investors were encouraged by data showing the labour market’s recovery was improving.

Back home, most of the oil and gas stocks were up including RIL (0.8 percent) , ONGC, IOC, BPCL (2.4 percent) and HPCL. All eyes will be on the oil marketing companies (OMCs) as petrol price may be reduced by about Re 1 per litre while diesel price may be hiked by 40-50 paise a litre.

The other major gainers on the Sensex were Hindalco, M&M, HDFC, Sterlite Industries and HUL up about 1.5 percent each. Meanwhile, lingering effect of the money laundering controversy seemed to be felt on the banking stocks. HDFC Bank, Axis Bank and ICICI Bank have lost around 1 percent each. BSE Bankex was down 0.2 percent. Some of the losers on the Sensex included Tata Motors (0.5 percent) and ITC (down 0.2 percent).

GLOBAL MARKETS ROUNDUP

Asian shares shrugged off three days of losses on Friday as global risk sentiment was buoyed by new U.S. data overnight suggesting a steady recovery in the world’s largest economy.

The rally in the U.S. dollar took a breather on Friday as sterling enjoyed a short squeeze, while the Australian dollar made the most of a barnstorming employment report at home.

U.S. oil futures rose to the highest settlement price in two weeks on Thursday as data showed an improving U.S. labour market in the world’s largest oil consumer.

Long-dated U.S. Treasuries prices slipped slightly on Thursday  after improved labour market data and stock market gains  undermined the appeal of lower-risk government debt.

LOCAL MARKETS PREVIOUS CLOSE
* BSE index 19,570.44 (1.07 pct)
* NSE index 5,908.95 (0.99 pct)
* Rupee 54.355/365 per dollar (54.30/31)
* 10-year bond yield 7.86 pct (7.9 pct)
* 5-year OIS rate 7.19 pct (7.22 pct)
* 1-year OIS rate 7.54 pct (7.58 pct)
* Call money 7.75/7.80 pct (7.780/7.90 pct)