Markets Open Higher As Asian Markets Recover

Published: Wednesday, June 15, 2016, 9:27 [IST]

Benchmark indices opened the day higher, as Asian markets saw some recovery despite the US and European markets closing lower.

Markets Open Higher As Asian Markets Recover

The Shanghai Composite traded higher shrugging off a decision by stock index provider MSCI which delayed an inclusion of mainland-traded Chinese A shares in its key emerging market index.

The Sensex was trading with gains of 102 points, while the Nifty rallied 29 points in trade.

Shares in Bharti Airtel gained after the stock was upgraded by a leading brokerage firm.
State Bank of India was trading higher after reports that two companies may pick the bank's 5 per cent stake in the National Stock exchange (NSE).

Shares in HDIL gained after reports that the company is in talks to sell 3-4 land parcels near Mumbai as it looks to bring down its net debt.

PSU Banking stocks which saw a sharp rally on Wednesday were once again in the limelight.

Syndicate Bank and Oriental Bank were among the early gainers in trade. Shares in Punjab National Bank jumped once again in trade after the bank reported a list of its 913 wilful defaulters.

Midcap stocks were also trading higher with GMR Infra and Sun TV among the early gainers.

Meanwhile, the rupee opened slightly higher at 67.25 to the US dollar. Analysts expect the currency to trade in a tight range through the day.

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Story first published: Wednesday, June 15, 2016, 9:27 [IST]

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