Markets open higher; HUL up 3%

Commentary

oi-Sneha

By Sneha B K

Published: Wednesday, May 2, 2012, 9:46 [IST]

The Indian indices opened higher on Wednesday in line with Asian peers, the Sensex surged more than 100 points in morning trade. Asian sentiment was boosted after strong US manufacturing data.

On Monday, Chinese regulators lowered trading fees for investors with effect from June which boosted market sentiments.

At 9.30 am IST, the Sensex was trading at 17,408.46 up 89.65 points or 0.52% and the Nifty was trading at 5274.85 up 26.70 points or 0.51%.

Among sectoral indices on the BSE, all sectors were in the positive except Consumer Durables and FMCG.

Among the stocks that gained today in early trade were HUL, DLF, Reliance Infra and Sterlite Industries.

HUL surged 3.21% after posting a spectacular set of Q4 results, which saw net its net profit surging 21%.

While on the losing side, the stocks that failed to lure investors in the morning trade were the Tata Motors, ONGC, Tata Power and Gail.

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