Sensex, Nifty Trade Marginally Higher; Banking Stocks Gain

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, November 23, 2015, 9:36 [IST]

Benchmark indices were trading marginally higher as cues across Asia were mixed and the week began on more of a cautious note, ahead of the beginning of the parliament session later this week.

The Sensex was trading with gains of 32 points, while the Nifty rallied 11 points in early trade. Gains in select banking stocks like State Bank of India, Axis Bank and PNB pushed indices higher.

Shares in Adani Ports was the top Nifty gainer, rising almost 3 per cent. GAIL, which had rallied a huge 9 per cent on Friday, dropped 1 per cent on profit booking. Other gainers included stocks like Hero Motor Corp and Zee.

Hindalco and Vedanta were the top losers in trade after reports that both the companies would be dropped from the BSE, with effect from Dec 21.

Aurobindo Pharma was trading higher after reports that the company had received he pharma major received USFDA approval to manufacture and market generic version of Pfizer's Revatio (sildenafil citrate) tablets.

Midcap stocks also saw good buying interest with the like of Adani Power, CESC and Unitech among the gainers.

IT stocks were trading mixed with TCS seeing some buying support, while Infosys was trading lower. Meanwhile, markets across Asia were mostly trading higher with the Shanghai Composite and the Japanese Nikkei higher in trade.

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