Sensex rallies 300 pts in early trade, Nifty tests 11,750

Friday,   24-May-2019   09:31 AM (IST)

Markets on Friday opened in the green with benchmark S&P BSE Sensex gaining 300 points at the opening while the borader Nifty50 was testing 11,750 levels. During the early trade, the Sensex was trading at 39,224 levels, 412. points or 1.06 per cent higher. The Nifty50 was at 11,769 mark, up 112 points or 0.96 per cent. Oil prices stabilized amid OPEC supply cuts and tensions in the Middle East. Around 6:15 am, Brent crude futures were at $68.05 per barrel up 0.4 per cent from their last close. Asian shares were near four-month low on weak global cues. MSCI's broadest index of Asia-Pacific shares outside Japan stood flat, down 0.9 per cent so far in the week. On Wall Street, the Dow Jones Industrial Average fell 286 points to close at 25,490 levels while the S&P 500 lost 34 points to settle at 2,822 levels during the overnight trade on Thursday. The Nasdaq too dropped 123 pints to settle at 7628 levels.