Indian markets trade higher amid mixed cues from global markets

• Sensex is close to hitting 60,000 as it gained 286 points to 59,826 while Nifty50 went up 87 points at 17,739 in the morning trade.
• Disappointing quarterly earnings of big techs like Google, Microsoft, Facebook kept the US indices under pressure.
• Overall, markets are focusing on corporate earnings as inflation risk persists.

Indian benchmark indices opened higher on Thursday amid mixed cues from Asian and the US markets.

Sensex is close to hitting the psychological level of 60,000 as it gained 286 points to 59,826 while Nifty50 went up 87 points to 17,739.

Disappointing quarterly earnings of big techs like Google, Microsoft and Facebook kept the US indices under pressure.

Asian markets also gave some mixed cues as earnings ruled the stock market movements. Overall, markets are focusing on corporate earnings along with a persistent inflation risk.

Meanwhile, the Indian rupee rose against the US dollar on speculation that the Fed may slow the pace of interest rate hikes.

On the negative front, crude oil prices continued to rise due to record US crude exports and a weaker US dollar. Brent crude was trading at $94 per barrel.

All sectoral indices were trading in the green except the IT index. Metal company stocks were pushing the indices upwards with JSW Steel surging as much as 5%, followed by Tata Steel with about 3% gains.

SBI Cards and Payment Services, Aditya Birla Sun Life AMC, Anupam Rasayan India, Balaji Amines, V-Guard Industries, Tamilnad Mercantile Bank, Tata Chemicals, REC, PNB Housing Finance and PC Jewellers are among companies that will announce their quarterly earnings today.

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