Markets Open Higher; Asian Markets Trade Mixed

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, February 1, 2016, 9:25 [IST]

Benchmark indices opened the day higher as Asian markets were trading mixed with the Japanese Nikkei continuing to rally, while the Shanghai Composite was down post PMI Data.

The Sensex was trading with gains of - points, while the Nifty gained - points in trade. Leading the set of gainers from the Nifty were

Larsen and Toubro, which reported a 19 per cent jump in net profits was marginally higher in trade. Banking stocks were once again adding pressure to the markets. Among the notable losers were ICICI Bank, State Bank of India and Bank of Baroda. Yes Bank, however, continued to rally post a spectacular set of numbers.

Banking stocks will continue to remain volatile, given the Reserve Bank of India (RBI) credit policy due on Feb 2.

Shares in Wockhardt were steady despite reports that the US Food and Drug Administration's had found a number of violation at Shendra.

Marico saw a jump in its share price after the company reported a better than expected performance. Oil and gas stocks were once again under pressure, with crude oil showing a marginal fall in trade. Oil India and ONGC were among the losers in trade.

Midcap stocks were also seen moving in line with the markets, though select stocks like Syndicate Bank and Union Bank dropped in trade. Just dial continued to fall sharply and was down another 3 per cent in trade to a new 52-week low.

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