Sensex Opens Higher; Global Markets Continue Rally As Brexit Fears Recede

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Benchmark indices gained ground once again in early trade, as markets discounted the Brexit fears. There were also strong overnight cues from the US with the dow recovering all of the losses, seen during the Brexit.

Asian markets were also trading strong with the Hong Kong's Hang Sang and the Japanese Nikkei leading gainers in trade.

Sensex Opens Higher; Global Markets Continue Rally As Brexit Fears Recede
The Sensex was trading with gains of 147 points, while the Nifty was up 48 points in trade.

Among early gainers from the Nifty were Dr Reddy's and Aurobindo Pharma. Shares in ITC dropped after the company's shares went ex-bonus. Gail and Powergrid were among the other gainers in trade.

Reliance Communications saw buying interest after reports that the CDMA customers in Mumbai, Delhi, Maharasthra and Andhra Pradesh circles, who had chosen to upgrade their services, will get the telco's 4G services from Friday.

Shares in HPCL and BPCL were down, after petrol prices were slashed and after a rally in crude prices. Sintex and NIIT Technologies saw byign support after both the companies were added to the futures and options segment.

Shares in IT firm KPIT Technologies dropped after the said that its revenue and profits may be flat in the second quarter, compared to first quarter of current fiscal, as ERP implementations revenue has been hit.

Meanwhile most of the Asian markets were trading higher, while the Rupee opened at 67.50 to the US dollar. The currency is expected to remain steady at the current levels.

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