Markets Open Higher; Asian Markets Fall On Weak Cues From The US

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Benchmark indices opened the day marginally higher, even as Asian cues remained weak amidst selling across the US markets.

Asia saw some selling pressure after the Japanese Nikkei fell amidst strength in the Japanese Yen. The Shanghai Composite and the Hong Kong's Hang Sang were other markets that saw a decline in trade.

Markets Open Higher; Asian Markets Fall On Weak Cues From The US
The Sensex was trading with gains of 30 points, while the Nifty was trading with gains of 4 points at 8511 points.

Shares in ITC were trading higher after the company reported a good 10 per cent growth in net profits. The shares were trading with gains of 2 per cent at Rs 357.

Cairn India was trading with gains despite a drop in net profits at the company, which was largely on expected lines.

PSU banking shares, which have had a breathtaking rally in the last few trading sessions, saw significant drops in prices.

Syndicate Bank and Union Bank were both down near 2 per cent, while other losers were Allahabad Bank and Bank of India. State Bank of India and Punjab National Bank also lost ground.

Tech stocks like TCS and Infosys were little changed over Thursday's levels.

Shares in Zenstar technologies was down 2 per cent, after the company reported a flat growth in net profits. Meanwhile, the rupee was trading flat at 67.14 to the US dollar.

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Read more about: sensex, nifty
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