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UPDATE: 

Indian stock markets opened on a positive note on Friday, with both the Sensex and Nifty up by about o.70%.

The Sensex gained 157 points, or 0.68%, while the Nifty opened with a gain of 47 points, or 0.67%.

Stocks that gained included Sun Pharma, Tata Steel, Axis Bank, Vedanta and Reliance Industries.

GM Breweries was up 6.6% at Rs 1,108 after the company reported strong third quarter results. The stock hit a 52-week high of Rs 1,160 intraday and was trading at Rs 1,085 later.

The net profit of the company soared to Rs 15.6 crore, up substantially from Rs 6.05 crore during the corresponding period in FY2015.

Net sales at Rs 92.87 crore for the third quarter was up by about 18% compared to Rs 78.74, on a year-on-year basis.

Original Story 

Indian stock markets are likely to see yet another day of correction and volatile trading on Friday due to World Bank's pessimistic growth forecast for the global economy and China.

The S&P BSE Sensex and NSE Nifty could extend losses after plunging by more than 2% on Thursday.

The World Bank on Wednesday lowered its 2016 growth forecast for the global economy to 2.9% from 3.3% in June last year.

It also cut its 2016 growth estimate for China to 6.7% from 7% in June.

On Friday, Chinese stock markets gave up early gains; the Shanghai Composite Index was down 2%.

On Thursday, US stock markets dropped sharply tracking Asian equity markets. The Dow Jones Industrial Average fell 2%, the S&P 500 shed 2.37% while the NASDAQ plunged 3%.

On the positive side, the fall in Chinese stock markets is unlikely to trigger panic selling as the 7% circuit breaker has been suspended.

But crude oil prices plummeting to 12-year lows on Thursday on the back of a global glut could dampen investor sentiments in India.

The Chinese yuan was propped up by the People's Bank of China during trading to support the currency, reported Channel News Asia

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