Sensex Opens Marginally Higher; Banking Stocks Gain

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Benchmark indices opened the day marginally higher, despite weakish cues from across Asia, as banking stocks saw some rebound in trade.

The Sensex was trading with gains of 37 points, while the Nifty rallied 11 points in trade. Banking stocks like ICICI Bank, State Bank of India, Bank of Baroda and Axis Bank were leading gainers in trade.

 Sensex Opens Marginally Higher; Banking Stocks Gain
Shares in Maruti were higher after reports that Suzuki Motor will start producing cars at new plant in Gujarat early next year.

Shares in Infosys was among the early losers after reports that Aberdeen Asset Management Asia has reduced its shareholding in Infosys by selling 56.26 lakh shares. The stock was down more than 0.50 per cent.

Sun Pharma saw good buying interest after India's largest pharma company said that it has received US Food and Drug Administration approval for BromSite.

Midcap stocks were also trading higher after Bata and Havells India were among the major gainers in trade.

However, Jubilant Food and L&T finance Holdings lost ground from the space.

IDBI bank was up despite reports that the employee unions opposing stake sale in the bank may lead the Government in consulting all stakeholders as part of "transformation" of the state-owned lender.

In Asia, the Japanese Nikkei was down on persistent strength in the Yen, though the Shanghai Composite was trading with gains.

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Read more about: sensex, nifty, bata
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