Sensex up 200 pts, Nifty above 23,300: Positive global cues among key factors behind market rise

Fresh updates from the financial markets indicate that The benchmark equity indices The two key benchmark indices traded elevated on Friday amid easing oil price marks and a positive trend in global markets.

The 30-share BSE Sensex advanced 162.87 points to 74,483.56 in early session. The 50-share NSE Nifty was up 43.90 points to 23,315.25.

Key factors behind market climb

1) Easing crude prices: Brent crude, the global oil benchmark, traded 0.93 per cent softer at USD 103.8 per barrel.

2) Positive global cues: In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were quoting in positive territory. US markets ended elevated on Thursday. Wall Street futures additionally traded elevated, indicating a elevated start to US equities.

3) Slide in India Vix: The fear gauge or the volatilty index declined 3 percent to 11.93 level, indicating softer uncertainity in the market.