Sensex Opens Higher As Asia Remains Quiet; Infy Bounces Back

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, March 11, 2016, 9:29 [IST]

Benchmark indices opened the day higher in trade, even as Asian markets were seeing a quiet day of trade. European stocks crashed on Thursday, as the European Central Bank President, hinted that there might be no more rate cuts.

The Sensex was trading with gains of 32 points, while the Nifty was up 9 points in trade. Leading the set of gainers from the Sensex was Infosys, which gained today after driopping as much as 3% on Thursday, following a block deal.

Oil and gas stocks were in the limelight falling a hige set of reforms for the oil and gas sector. ONGC, Cairn, Gail and Oil India were among the gainers.

Banking stocks were the ones that exeryed some pressure on the Nifty with ICICI Bank and State Bank among the early losers.

Sun Pharma dropped 2 per cent after reports that the company made a Class II recall of Alendronate sodium tablets in the US.

Software stocks apart from Infosys were trading marginally lower, including the likes of TCS and Wipro. Welspun gained ground after the company bagged a sizeable order from the Middle East.

Aegis Logistocs was trading higher after the board approved setting up of 25000 MT of LPG storage terminal at Haldia port.

Meanwhile, most Asian markets were trading flat with the Shanghai Composite and the Japanese Nikki down in trade.

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