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Sensex, Nifty open higher; ITC, Reliance lead rally

Sensex, Nifty open higher; ITC, Reliance lead rally
Markets opened the day higher on the back of buying support in heavyweights including Reliance Industries and ITC. The Sensex was trading higher by 47 points, while the Nifty rallied 12 points in trade today.

Among the early Nifty gainers were Coal India, HDFC, HDFC Bank, Hindalco, Infosys, TCS and ONGC. Mid cap gainers in early trade were Adani Power, Dish TV, Allahabad Bank, HDIL, Opto Circuits, Hexaware and Sintex.

Losers from the Mid cap space were Bata India, Welspun, Vijaya Bank and United Phosphorus. Oil marketing companies which have been rallying in the last few days continued to see buying interest with BPCL, Cairn India, Gail and Tata Power among the gainers.

Realty stocks continued to see buying interest for a third straight session with HDIL, Anant Raj, Unitech, Indiabulls and Oberoi Realty among the gainers.

Pharma stocks were however subdued in trade with Glenmark, Lupin, Piramal all losing ground. Shares of Infosys was trading higher after the firm got listed on the NYSE Euronext London and Paris markets.

Tata Motors was trading higher despite the fact that India's largest commercial vehicle maker, has halved production at its Jamshedpur plant.

FMCG stocks were trading mixed with Hindustan Unilever, Godrej Consumer and EID Parry dropping, while Colgate, Dabur and Jubilant Foodworks gained.

Banking stocks were subdued and little changed with ICICI Bank, State Bank of India and Punjab National Bank flattish in trade.

Meanwhile, Asian markets were mostly trading higher led by strong gains in the Korean and Japanese markets.

Read more about: sensex nifty
Story first published: Wednesday, February 20, 2013, 9:36 [IST]
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