Markets Trade Higher On Asian Recovery; Nifty Reclaims 8750 Points

Benchmark indices opened the day higher, even as early morning trends from the SGX Nifty suggested poor opening for the indices.

The Sensex was trading with gains of 94 points, while the Nifty was higher by 33 points. Most Asian markets were indicating a very weak opening, ahead of the US Presidential debate, as politics assumed centre stage.

Stocks that saw early gains were Coal India, Asian Paints, Tata Consultancy Services and Bajaj Auto. On the other hand losers in trade from the Nifty were Bharti Airtel, ICICI Bank and Gail.

Among non index stocks, Maithan Alloys fell a huge 6 per cent, after reports that severe damage had occurred at the Visakhapatnam plant due to heavy rainfall and production could be affected over the next few months.

Shares in HUL were down marginally after reports that the company has shut down Bru world café chain.

Most of the banking shares were little changed over the previous days close.

Meanwhile, the rupee opened at 66.63 to the US dollar, which was marginally higher than its previous days closing of 66.66. Check currency rates here

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