Markets open higher on strong global cues

Updated: Wednesday, July 10, 2013, 9:36 [IST]

Markets opened the day higher in trade following strong openings across Asia and overnight strength in the US markets.

The Sensex was trading higher by 42 points, while the Nifty gained 12 points in trade. Infosys was trading soft on reports that its global sales head had resigned to start his own venture. Tata Motors was also soft after worries over a strike at its logistics partner affected sentiments.

Hindustan Unilever continued to lose ground following a stake hike by its parent company. IndusInd Bank was trading higher ahead of results to be declared by the company later today.

Other Nifty stocks that were trading with gains included ACC, TCS and Jaiprakash Associates. PSU banking stocks continued to find buying support at lower levels. Prominent gainers from the space were
Andhra Bank, Union Bank, Syndicate Bank and Indian Overseas bank.

Real estate stocks also saw buying interest with Anant Raj jumping more then 3 per cent, while Oberoi Realty gained 2 per cent.

Mid cap stocks also saw some gains with notable winners being Bata, HDIL and Opto Circuits. Meanwhile, markets in Asia were trading with gains with Indonesia's Jakarta Composite leading the rally.

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