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Markets open higher; HUL rallies again
The Nifty opened the day significantly higher led by strong gains in Hindustan Unilever, Hindalco, Jaiprakash Industries Bharti Airtel and HUL. The Sensex was trading with gains of 104 points, while the Nifty rallied 30 points in trade today.
Among the top losers in trade were Mahindra and Mahindra, IDFC and UltraTech Cement. Hindustan Unilever which jumped almost 10 per cent in trade on Wednesday was trading higher again gaining 5 per cent in early trade.
TCS was trading higher ahead of its results to be declared later today. PSU banking stocks saw a smart bounce in trade today with notable gainers being State Bank, Union Bank and Andhra Bank. Private sector banks also found buying support with notable gainers being ICICI Bank, HDFC Bank and Axis Bank.
Idea Cellular dropped on reports that PE funds would exit the company. Real Estate stocks were trading higher with Parsvnath and DB Realty trading in the green.
Oil and Gas stocks were trading with gains with Reliance and ONGC both up.
Meanwhile, markets in Asia were mostly higher led by gains in the Nikkei and Strait Times.
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