Sensex Opens Higher As Asian Markets Trade With Gains

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Benchmark indices opened the day higher as most of Asia was trading with gains, despite lower closings across the US and Europe.

The Sensex was up 128 points, while the Nifty traded higher by 40 points as select banking stocks saw some gains.

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Sensex Opens Higher As Asian Markets Trade With Gains
Shares in Hindustan Unilever continued to drift lower after results lagged estimates. A host of brokerages have cut their target price on the stock, which was almost 1.2 per cent lower in trade.

TCS, which saw a sharp correction of more than 4 per cent on Wednesday recovered some lost ground and was trading higher.

MindTree was higher ahead of results to be declared later today. Tata Motors was higher despite the company saying that its numbers will be affected by a blast at the Chinese port of Tianjin in August which destroyed or damaged 5,800 vehicles.

HDFC Bank was also trading weak after reports that the forex money laundering of Bank of Baroda has also been traced to accounts of HDFC Bank.

Shares in DCB continued to fal and were lower by almost 10 per cent after Wednesday's 20 per cent fall.

Metal stocks continued to show a rally with stocks like Vedanta, Tata Steel and Hindalco among the early gainers.

Meanwhile, markets across Asia were trading with gains led by the Japanese Nikkei and the Shanghai Composite.

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Read more about: sensex, nifty, tata motors
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