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Sensex, Nifty trading marginally higher amid Asian markets scaling decade highs

Market heavyweight Reliance Industries was trading 0.25% higher at 918 level after international brokerage house CLSA said Reliance Industries is likely to see a big cash-flow boost as projects of over $40 billion start to deliver in full swing this fiscal while capex falls.

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Sensex, Nifty trading marginally higher amid Asian markets scaling decade highs

The Sensex and Nifty on Thursday rose higher in Thursday morning trade amid Asian markets reaching their 10-year high on economic data from the United States.

While the Sensex rose 39 points to 33,832, Nifty was up 13 points to 10,456 level.

Asian Paints (1.75%), ONGC (1.45%) and Dr Reddy's (1.19%) were top gainers on Sensex.

Sun Pharma (1.10%), ICICI  Bank (0.79%)  and Tata Motors (0.67%) were the top losers on the Sensex. 

Market heavyweight Reliance Industries was trading 0.25% higher at 918 level after international brokerage house CLSA said Reliance Industries is likely to see a big cash-flow boost as projects of over $40 billion start to deliver in full swing this fiscal while capex falls.

Market breadth was positive with 1,500 stocks trading higher against 546 falling on the BSE.

Global markets

Asian shares scaled a 10-year high on Thursday as solid economic data from the United States and Germany reinforced investors' optimism while oil prices hovered at 2-1/2-year high with unrest in Iran stoking supply disruption concerns.

Japan's Nikkei jumped 2.0 percent on its first trading day of the year while the broader Topix hit its highest level since 1991.

US factory activity increased more than expected in December, boosted by a surge in new orders growth, in a further sign of strong economic momentum at the end of 2017.

In Germany, Europe's economic power house, the unemployment rate hit a record low of 5.5 percent in December, underpinning a broad-based economic upswing.

The world's stock markets hit a record high on Wednesday.

On Wall Street, the three main stock indexes hit record closes, helped by a 1.5 percent rise in energy stocks.

Oil prices hovered at 2 1/2-year highs as the anti-government protests in Iran that began last week rattled Tehran's clerical leadership and left 21 people dead so far, raising concerns about supply.
 
With Reuters inputs

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