Sensex Surges Over 450 Points On Positive Global Cues; Nifty Trades Above 16,300

Indian equity benchmarks on Friday traded higher in opening deals amid positive global cues. Asian shares extended overnight global gains due to optimistic retail earnings outlooks.

Investors also took comfort from U.S. Federal Reserve minutes showing a pause to its interest rate hikes is on the cards later this year.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a gap-up start for the domestic indices.

The 30-share BSE Sensex jumped 457 points or 0.84 per cent to 54,710 in early trade, while the broader NSE Nifty moved 140 points or 0.86 per cent up to trade at 16,310.

Mid- and small-cap shares were trading on a strong note as Nifty Midcap 100 rose 1.03 per cent and small-cap gained 1.15 per cent.