Mkts cheer Nuke-deal; Nifty above 4500 in early trade

UPWARD SWING: Big gainers are power, capital goods, banking and oil stocks.

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Markets have opened with huge gap up and reacted strongly to the news that the 45-nation Nuclear Suppliers Group (NSG) has approved a US plan to engage in nuclear trade with India.

US mortgage lenders Fannie Mae and Freddie Mac will be taken over by US government, which is the positive news for Asian sovereign funds as well.

Asian markets have responded smartly to this news. Big gainers are power, capital goods, banking, realty, technology and oil stocks.

At 9:56 am, the Sensex went up by 623 points to 15,107 and Nifty surged by 175 points to 4,528.

Among the frontrunners, Reliance Industries, GMR Infrastructure, DLF, HUL, Infosys, BHEL, L&T, ICICI Bank, Unitech, Reliance Infrastructure, NTPC, Reliance Petroleum, SBI, Tata Motors have gained.

Crude oil price is trading at USD 108.97 per barrel, increased by USD 2.68 on the NYMEX. The Indian Rupee has appreciated by 0.40 paise or 0.9% to 44.24 to a dollar.

Asian markets are trading sharply higher after the news of Fannie Mae and Freddie Mac. Nikkei jumped by 3.64%, Hang Seng 3.78%, Straits Times 3.78%, Kospi 4.51%, Taiwan Weighted 5.46% and Jakarta Composite 1.06%.