Sensex Opens Higher As Global Cues Remain Steady

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, January 12, 2016, 9:30 [IST]

Benchmark indices opened the day flat, as Asia was mostly quiet, despite a further drop in the price of crude oil.

The Sensex was trading with gains of 33 points, while the Nifty rallied 10 points in trade. Banking stocks which hit 52-week lows on Monday saw some recovery. State Bank of India, ICICI Bank and Canara Bank saw buying interest.

Maruti shares were trading higher after reports that the company sold 40,000 units of SCross and Baleno via NEXA outlets. TCS was trading marginally lower ahead of its results to be declared later today.

Unitech was down 3 per cent after reports that a district court had sent Unitech MD Sanjay Chandra & 2 others to judicial custody till January 25.

Shares in ONGC dropped 1.2 per cent after crude oil prices plunged further in trade. Metal and mining stocks saw some early buying interest with Vedanta and Tata Steel among the losers.

IndusInd Bank was marginally higher ahead of its results to be declared later today. Reliance Industries which has seen a sharp rally in its share price in the last few trading sessions was trading with losses.

Meanwhile, markets across Asia were trading with gains though the Shanghai Composite saw some downside in early trade. The Japanese Nikkei was also trading lower after a holiday on Monday.

GoodReturns.in