Sensex, Nifty open on positive note, Rupee rebounds from 3-month low

Key indices on Friday opened in green tracking positive global cues. The Sensex rose 100 points higher to 33,931 while Nifty was up to trade at 10,422.

The rupee rebounded today to 64.86 against the US dollar.

Asian shares rebounded on Friday as comments from a Federal Reserve official eased worries about faster rate rises in the United States, while the safe-haven yen held on to its gains amid heightened volatility across markets.

Financial markets have fluctuated wildly this month as investors fretted about how fast the Fed might raise rates in the wake of data showing a pick up in US inflation.

Even though broader US price pressures still appear modest for now, markets are now fully pricing in three rate hikes this year, one more than was seen just a few months ago, and some analysts now expect four.

That in turn has stoked anxiety that many central banks will start to tighten policy and raise borrowing costs, which will hit corporate earnings, which have boomed thanks to a synchronized uptick in global growth.

It is still down more than 4 percent in February so far, however, after global equity markets were mauled at the start of the month by worries that inflation is picking up.

Japan's Nikkei edged 0.4 percent higher and South Korea's KOSPI index rose 1.1 per cent. China's SSE Composite index and the blue-chip CSI300 each rose 0.7 per cent.

(With inputs from Reuters)