Markets Open Higher On Strong Asian Cues

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Benchmark indices opened the day higher, a day ahead of the RBI Monetary policy, where it is widely expected that the country's central bank would cut interest rates by 25 basis points.

The Sensex was higher by 135 points, while most Asian markets were also trading with gains. Shares in ITC were trading with losses, after reports that tobacco companies had shut down production, until clarity emerges on the health warnings.

Markets Open Higher On Strong Asian Cues
ICICI Bank was trading higher after reports that the bank had sold a 9 per cent stake in its general insurance venture ICICI Lombard and a 2 per cent stake in life insurance subsidiary ICICI Prudential for about Rs 2,200 crore.

Early Nifty gainers in trade were Adani Ports, Idea Cellular, Bosch, Bhel and Bharti Airtel. ACC, ONGC and Ultratech were among the few losers from the Nifty in early trade.

Shares in Adani Enterprises surged after reports that the Group had won mining leases for its $16-billion Carmichael coal project in Australia. The stock was up 5 per cent in trade.

Midcap stocks were also trading higher with Reliance Capital and Reliance Power among the losers. Banking stocks were mixed a day ahead of the RBI's Monetary policy. Bank of Baroda and Axis Bank were down, while most other banks were trading higher.

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Read more about: sensex, nifty, bhel, bharti airtel, acc
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