Markets Open Higher; Discount Brexit, Inflation Worries

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Indian benchmark indices opened the day higher, discounting worries over the possibility of a Brexit and also higher than expected retail inflation.

Indian benchmark indices have fallen in the last few trading sessions, as worries have remained over the likelihood of an exit by Britain from the European Union.

 Markets Open Higher; Discount Brexit, Inflation Worries
The tentative start to the markets also stems from worries over the 2-day US Fed meeting and the commentary likely to emanate from there.

The Sensex was trading with gains of 30 points, while the Nifty was up 10 points in trade.

Leading the set of gainers in trade were select banking stocks after the RBI announced some new debt restructuring norms for banks.

Government owned banks were in the limelight with Punjab National Bank, Syndicate Bank and other PSU banking stocks gaining ground.

Shares in Deepak Fertilizers jumped 6 per cent after the company said that it has received certain payments from the government for subsidies owed.

Jubilant Foodworks saw some selling pressure depsite reports that the company plans to open 130-140 new Domino's Pizza outlets.

Among the notable Sensex gainers in early trade were GAIL, ICICI Bank, State Bank and ONGC. However, stocks like Bharti Airtel, Maruti and TCS were among the losers.

Meanwhile, the rupee opened weak at 67.17 to the US dollar in early trade.

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Read more about: sensex, nifty, inflation, brexit
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