Sensex Opens Higher; Global Markets Calm After Chinese Storm

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, January 5, 2016, 9:30 [IST]

Benchmark indices opened the day higher in trade as Asian markets bounced back strongly after a sell-off seen on Monday.

The Sensex was trading with gains of 103 points, while the Nifty was up 36 points in trade. Leading gainers from the Nifty were stocks like Tata Steel, Tata Power, Bhel and Hindalco.

Banking stocks also saw a smart recovery with State Bank of India, ICICI Bank and Punjab National Bank among the gainers in trade.

Eros International was up 2 per cent after reports that the company's digital over-the-top (OTT) distribution service ErosNow has entered into a platform and content deal with telecom service provider Idea.

TCS was once again in the limelight after reports that the company has joined the bidding process for Perot Systems, an IT management business of Dell.

JSW Steel was trading higher after reports that Karnataka High Court gave the steel maker a 'partial' relief in the Forest Development Tax (FDT) case.

The only Nifty losers in trade was Infosys and HDFC Bank. Mid cap stocks also saw a smart bounce with Adani Power, Steel Authority of India and SKS Microfinance among the gainers in trade.

Meanwhile, markets across Asia were trading higher with the Japanese Nikkei, Singapore Strait Times and the Kospi saw some recovery, following stability in the Chinese markets.

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