Markets open higher; bank stocks rally

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Markets open higher; bank stocks rally
The markets opened the week higher led by smart gains in banking stocks. The Sensex was trading higher by 120 points and the Nifty gained 35 points at 9.20 am IST.

Maruti Suzuki lost 1.5% in early trade, despite putting up a spectacular financial performance for Q4. BHEL lost as much as 2% in early trade on reports that the Rajasthan government had scrapped an order worth Rs 12,000 crore of the company.

Other Asian markets were trading firm with the Hang Sang and Kospi both trading higher. Among the early gainers in trade today were Sesa Goa, TCS, SAIL and Hero Motorcorp. Among the shares that lost ground were Asian paints and Bajaj Auto.

The markets are expected to continue to trade flat, in the absence of any global triggers. The week will have fewer trading sessions as the Markets will remain close on May 1, on account of May day.

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Read more about: sensex, nifty
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