Indian market opened higher on Thursday, following Asian peers that kicked off the new decade on a positive note, after global stocks ended at record highs, and buoyed by Chinese markets after Beijing eased monetary policy to support slowing growth.

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Investors also cheered news that the United States and China will sign a trade pact soon after a year of volatile negotiations between the world's two largest economies.

At 9:18 am, the Sensex was up 102 points, trading at 41,408, while the Nifty was trading 30 points higher at 12,212. Broader markets were also in-line with the benchmarks, with Nifty Midcap and Nifty Smallcap up 0.12 percent and 0.3 percent, respectively.

JSW Steel, Tata Steel, Hindalco, Bharti Airtel, and Vedanta were the top gainers on Nifty50, while Zee, Titan, Coal India, NTPC, and UPL led the losses.

All sectoral indices, except Nifty Media, were trading in the green in the opening trade. Nifty Metal rose the most, up 0.8 percent amid US-China trade deal optimism. Meanwhile, Nifty Bank, Nifty Auto, and Nifty FMCG rose 0.3 percent each. However, Nifty Media fell over 1 percent.

Globally, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.35 percent in morning trade after rising 5.6 percent in December. In China, the blue-chip CSI300 index, one of the world's best-performing indices last year, was up 1.34 percent.

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