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Markets Trade Mixed; Asian Markets Subdued, While Dollar Gains
Benchmark indices in India opened the day higher, even as Asian markets fell and the dollar gained against a basket of currencies.
MSCI's broadest index, which is a good indication of how Asian markets are performing, dipped 0.2 per cent.
Shares in BPCL gained ground after a hike in petrol prices. Infosys, which saw a sharp drop in its share price after its results on Friday, recovered some ground and was trading with gains.
Most of the brokerage firms have placed a buy call on the stock with higher targets. TCS, another heavyweight, which declared results last week was trading with marginal losses. Shares in Ultratech Cement were trading with gains ahead of the company's results to be declared later today. The stock was up 1 per cent ahead of the results.
Banking stocks were trading with gains, with ICICI Bank surging a huge 3 per cent in opening trades. PSU banking stocks on the other hand were little changed over Friday's close.
Shares in LIC Housing gained after Morgan Stanley raised its target price on the stock.
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