Sensex trades higher; Bharti leads rally

Updated: Friday, February 1, 2013, 9:41 [IST]

Markets opened the day with gains and were trading higher led by Bharti Airtel, which is slated to report its Q3 FY 13 numbers today. The Sensex was trading higher by 60 points, while the Nifty gained 15 points in early trade.

Among the notable gainers in trade were Lupin Labs, Infosys, Larsen & Toubro, BPCL, Dr Reddy's and GAIL.

Shares of Indian Hotels gained even after reports of legal action being initiated against the company for one of its prestigious properties.

Oil India fell after the government offered a floor price of Rs 510 per share, which was at a discount to the closing market price of the stock on Thursday. Oil India was down more than 2 per cent in trade today.

Shares of Sobha Developers was trading lower after the company reported a lower than expected profitability figure for the third quarter.

Top losers from the Nifty in trade today were Jaiprakash Associates, Hindustan Unilever, Coal India and Wipro.

PSU banking stocks which rallied following a good set of numbers by PNB and Union Bank dropped in trade today. Among the PSU banking losers were Allahabad Bank, Andhra Bank, Oriental Bank and Union Bank.

Realty stocks continued to see buying in trade today with HDIL, DB Realty, Unitech and Godrej Property among the gainers.

Metal stocks were having a good day with most of the prominent metal names among the gainers. Hindalco, Jindal Steel, Tata Steel, Sesa Goa and Sail were among the gainers.

Meanwhile, markets in Asia were trading mixed with the Japanese Nikkei and Taiwan Weighted higher in trade, while the Hong Kong's Hang Sang and the Chinese Shanghai Composite trading with losses.

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