Markets open higher; HUL rallies 4% post offer

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Markets open higher; HUL rallies 4% post offer
Markets opened the day sharply higher led by strong closings across Europe on Thursday and sharp gains in the Asian markets on Friday. The Sensex was trading higher by 195 points led by a 4% rally in Hindustan Unilever following the parent company's open offer.

Other Nifty stocks that gained in trade were HDFC Bank, Hero Motor Corp, Bharti Airtel and Larsen and Toubro.

The only Nifty loser in early trade was Maruti Suzukli. Shares in BGR Energy Ltd fell after one of its promoters will sell over shares, representing 3 per cent stake today.

ONGC saw buying interest after the state-owned company said it has drilled the deepest well in search for oil and gas in the Krishna Godavari basin. The stock was up by - per cent in trade.

PSU banking stocks which have been underperforming the broad markets rallied in trade with notable gainers from the space including Andhra Bank, Union Bank of India and Oriental Bank of Commerce.

Realty stocks were also in the limelight with Unitech, Indiabulls and Sobha Developers seeing maximum gains.

Meanwhile, markets in Asia were trading significantly higher led by sharp gains in Hong Kong's Hang Sang and the Japanese Nikkei.

Read more about: sensex, nifty
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