Sensex, Nifty open higher on easing US economic concerns

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Bengaluru, May 8th

Indian stocks opened higher on Monday as sentiment improved, after strong economic data from the United States, but may hold amid a string of corporate earnings.

At 9.40 am Nifty 50 quoted 115.45, or 0.64 percent, at 18,184.85, while the S&P BSE Sensex rose 418.67 points, or 0.69 percent, to 61,472.96.

Eleven out of 13 major sectoral indicators advanced, with financial and information technology indicators of great interest increasing by 0.55 percent each. NIfty Bank rose 415 points, or 1.15 percent, to 43,170.95.

Global indices improved after strong US jobs data for April brightened the economic outlook, temporarily easing concerns about the health of the economy and leading to gains in Wall Street stocks. Asian markets also rose today.