Markets open higher in line with Asian markets

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 Markets open higher in line with Asian markets
Indian markets opened the day steady in line with Asian markets, which were all trading higher. The BSE Sensex was trading higher by 67 points at 17,758 points, while the Nifty was trading higher by 14 points at 5380 points.

Among the shares that rallied today was Infosys Technologies which gained more than 2%, following reports that a US court had dismissed a harassment case against the company. Maruti Suzuki gained more than 1% in trade today following reports that the company was slated to open its Manesar Plant. Other stocks that gained in trade today were Tata Motors and Tata Power.

Shares of Hindalco lost ground today following reports that the a power plant of the company would be shut. Metal stocks that were linked to coal and which had seen a drubbing on Friday following the CAG report on coal allocation recovered marginally.

Other shares that lost ground today were Hero MotorCorp, Sterlite Industries and ITC.

Meanwhile, shares in Asia were all trading higher, on increasing hopes of a stimulus from the Federal Reserve in the US and the ECB in Europe. Markets are expected to be rangebound and would look for fresh triggers, since they have already rallied substantially over the last few weeks.

Read more about: sensex, nifty
Story first published: Tuesday, August 21, 2012, 9:36 [IST]
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