Markets firm on positive global cues

India's benchmark indices opened on a positive note, with the Sensex trading higher by 75 points at 18153 points, at 9.20 am IST. The Nifty too gained ground and was trading higher by 21 points at 5504 points.

Positive cues from global markets, particularly higher closing in the US, helped boost sentiments. Sterlite Industries and Bharti both were trading higher, after the sharp sell-off witnessed in these stocks on Thursday. Other gainers included State Bank of India and Videocon.

Among the early losers were HDFC and Reliance, which lost marginal ground.

The markets are expected to remain range bound and a decisive move is expected only after clarity on reforms in the Union Budget and interest rate expectations in the forthcoming credit policy.

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