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Markets open higher tracking Asian peers
Among the top gainers in trade today were ICICI Bank, ACC, IDFC, State Bank of India and Tata Steel. Shares of DLF continued to drop following allegations of undue favours extended by the company to Congress Preident Sonia Gandhi's Son-in-law Robert Vadra.
Telecom shares were trading lower following an EGOM decision on spectrum fee set to cost the companies in the sector around Rs 27,000 crores. Idea Cellular was down 1.32%, while Bharti Airtel was down almost 1% and Reliance Communications shed 0.50%.
United Spirits was up 3% after Vijay Mallya and Kishore Chhabria agreed to settle their dispute over the ownership of the largest selling whisky brand in the world, Officer's Choice, out of court.
Top losers from the Nifty stocks were Bajaj Auto, Bhel and Hero MotorCorp.
Shares of Reliance Industries was trading firm despite reports that the company was scaling down its oil and gas investments on declining production.
Meanwhile, shares in Asia were all trading higher with the Shanghai Composite, Hong Kong's Hang Sang and Singapore's Strait Times all higher in trade.
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