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Markets open cautious; ACC rallies

Markets open cautious; ACC rallies
Markets opened the day on a cautious note with the Sensex trading higher by 5 points, while the Nifty gained 2 points in early trade.

Top gainers from the Nifty in early trade were ACC, HDFC, Hindustan Unilever, State Bank, NTPC and Reliance Industries.

On the other hand the early Nifty losers were Maruti Suzuki, Tata Steel, Tata Motors, Bajaj Auto, Bharti Airtel, ITC, HeroMotor Corp and Jindal Steel.

Trent shares rose after the firm arm said its board had approved a proposal to buy private equity fund TVS Shriram Growth Fund's entire stake in Landmark Ltd, for Rs 84 crore.

PSU Banking shares which rallied nicely on Monday continued to show a firm trend. Shares of IOB, IDBI Bank, PNB, Syndicate and Union, Allahabad bank, Andhra Bank and Bank of Baroda all jumped in trade.

Realty stocks too continued to gain momentum with Anant Raj, DB Realty, HDIL, Oberoi and Unitech gaining in trade.

Shares of Adani Ports rallied following reports that the Supreme Court has allowed operational units in Mundra Port SEZ to continue operations.

Kingfisher Airlines jumped 5 per cent on news that UB Holdings has hiked loan limit for Kingfisher from Rs 300 crore to Rs 750 crore.

Simbhaoli Sugars jumped 6 per cent after reports that the company will consider issuing up to 40 lakh cumulative redeemable preference shares of Rs 40 crores.

Meanwhile, markets in Asia were trading mixed with the Hong Kong's Hang Sang and the Chinese Composite trading lower, while Korean Kospi and the Singapore's Strait Times gained in trade.

Read more about: sensex nifty
Story first published: Tuesday, February 19, 2013, 9:33 [IST]
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