Nifty Trades Flat; Commodity Shares Gain

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, December 24, 2015, 9:27 [IST]

Benchmark indices opened the day higher as global markets were buoyant, following strong closings across the US and European markets.

Asian markets were also trading firm, though the Shanghai Composite lost more than one per cent in trade. The Sensex was trading with gains of 16 points, while the Nifty opened higher by 9 points in trade.

Tata Steel was up in early trade after the steel major signed a letter of intent for sale of its UK long product business.

Early Nifty losers in trade were stocks like Asian Paints, Cipla, Infosys and TCS. Realty major DLF was trading higher after reports that the company has received Rs 1,992 crore from Singapore's sovereign wealth fund GIC for stake in 2 upcoming projects in the national capital.

Idea Cellular saw some buying interest after the company launched high speed 4G LTE services in states of South India.

Other notable Nifty gainers included stocks from the commodity space like Vedanta, Coal India and ONGC. Alkem and Dr Lal's Pathological Labs, which got listed on Wednesday continued to see buying support. Both the stocks were up in trade.

Reliance Infra was also trading higher after reports that it plans to sell its cement business. Meanwhile, markets across Asia were trading higher with the KLSE composite and the Singapore's Strait Times seeing good gains.

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