Markets open higher on strong global cues, rupee recovery

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Markets open higher on strong global cues, rupee recovery
Markets opened the day higher on the back of smart recovery in the global markets and gains in the rupee. The Sensex was trading higher by 144 points, while the Nifty recovered by 46 points in early trade.

Among the top gainers in trade were Jaiprakash Associates, Reliance Infra, Ultratech Cement, Bajaj Auto and Hindalco. Stocks that lost ground in trade were Maruti Suzuki, Coal India, Hindustan Unilever and Dr Reddy's.

Bank Nifty which has been under pressure in the last few trading sessions, was trading higher led y strong gains in banking names like Canara Bank, HDFC Bank and Union Bank of India. Most of the other PSU banks also rallied in trade today.

Shares in NCC were trading higher following reports that Rakesh Jhunjhunwala had picked a stake in the company. ABB was trading marginally higher after the company bagged a sizeable order.

Real estate stocks were also in the limelight in trade today with most of the stocks trading with gains. Meanwhile, most of Asia was trading with gains led by the Japanese Nikkei. Other markets from the region that were trading higher were the Chinese Shanghai Composite and the Korean Kopsi.

Read more about: sensex, nifty
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