Sensex Opens Higher On Strong Global Cues; PSU Banks Lose Ground

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Benchmark indices opened the day higher with PSU banking stocks once again leading the rally on sustained buying support.

The Sensex was trading with gains of 126 points, while the Nifty rallied 26 points in trade. Leading the set of gainers from the Nifty were Bharti Airtel and Tech Mahindra.

Sensex Opens Higher On Strong Global Cues; PSU Banks Lose Ground
PSU Banking stocks which had seen a phenomenal rally on Monday, gave up gains and were trading lower. Bank of Baroda, Canara Bank and Punjab National Bank were among the early losers.

Shares in Sun TV fell, after reports that the govt will challenge the decisions of the Madras and Delhi High Courts allowing Sun Group to participate in the FM radio phase-III auction.

Nestle India was trading higher after reports that the Indian food regulator is unlikely to appeal against the recent Bombay High Court verdict allowing the company

Reliance communications was higher after reports that the company has shortlisted bidders that would like to take a stake in its subsidiary.

Cipla, which lost heavy ground n Monday following its quarterly results gained ground and was trading higher.
Tech stocks were leading the gainers today with TCS and Infosys among the early gainers from the Nifty.

Meanwhile, markets across Asia were trading mixed with the Shanghai Composite and the Hang Sang dropping, while the Strait Times and the Nikkei gained.

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