Sensex, Nifty Open Higher on Strong Global Cues

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The Sensex and the Nifty opened the day higher on the back of strong global cues. The Sensex was trading higher by 93 points, while the Nifty gained 24 points in early trade.

Leading the set of gainers from the Nifty were stocks like ICICI Bank and Sun Pharma. Jindal Steel continued to fall for a second day in a row, following reports of the CBI raid on the company. DLF which had fallen sharply on Monday following reports of a likely investigation in land deals in Haryana by the new government in the state recovered lost ground.

Sensex, Nifty Open Higher on Strong Global Cues
Hindustan Unilever, which reported numbers that lagged estimates for the quarter ending June 30, 2014 continued to trade with with losses.

Nifty stocks that gained ground in trade were ICICI Bank, Sun Pharma and Wipro. Mid cap stocks were also trading flat in line with the broad markets. However, Hindustan Zinc and Aurobindo Pharma were trading with marginal gains.

PSU banks were once again having a good session in trade with almost all of the PSU banks trading with gains.

Meanwhile, markets across Asia were trading with gains led by the Singapore's Strait Times and the Hong Kong's Hang Sang.

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