Opening bell: Sensex, nifty open in green over positive global cues

Domestic markets on Friday opened in green tracking the positive global cues. At 9:41 AM, Sensex was up by 37,413.27 points while Nifty was at 11,321.45 points. On Thursday, Sensex dropped over 200 points to 37,373.08 on heavy selling in metal, auto, banking, capital and realty stocks amid sustained capital outflows by foreign funds after the RBI yesterday hiked repo rate for the second time in two months.

Meanwhile, Asian stocks inched on Friday following a tech-led rise on Wall Street, although the latest exchange of trade threats between Beijing and Washington capped gains and drove safehaven flows to the dollar, which hovered near a two-week high.

Investors also remain cautious ahead of the July U.S. jobs report due later on Friday, which will give a reading on the health of the world's largest economy and possible clues about the pace of Federal Reserve interest rate rises.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.05 per cent. The index was down more than 0.6 per cent for the week on U.S.-China trade tensions.

The trade war between the world's top two economies intensified midweek after U.S. President Donald Trump raised pressure on China by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports.

"The equity markets now have time to regroup and settle down after yesterday's slide. But the U.S.-China trade conflict involves the epicentre of the region and this will continue to weigh psychologically on Asian equities," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo.

The Shanghai Composite Index swerved in and out of the red in early trade, and was last up 0.1 percent, after dropping 2 per cent the previous day.Japan's Nikkei added 0.25 per cent and South Korea's KOSPI was 0.45 per cent higher. Tech-heavy Taiwan stocks outperformed thanks to the gains on Wall Street, rising 0.7 per cent.

Technology stocks pushed the S&P 500 and Nasdaq higher on Thursday, driven by Apple shares as the iPhone maker became the first publicly traded U.S. company worth a trillion dollars.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)