Markets open higher: HCL Tech surges on spectacular results

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Markets open higher: HCL Tech surges on spectacular results
Markets opened the day higher in line with most Asian markets which were trading with a positive bias, following strong overseas closings in the United States.

The Sensex was trading higher by 56 points, while the Nifty gained 22 points in trade. Among the stars in early trade was HCL Tech which rallied more then 5 per cent following a spectacular set of results. Reliance which reported a mixed set of numbers late on Tuesday was trading with losses of 1 per cent.

Tata Consultancy Services which reports numbers after market hours today was trading with gains of almost 1 per cent.

Nifty losers in early trade were Sun Pharma, Hindustan Unilever and Kotak Mahindra. Crompton Greaves was trading firm after the company said it has secured a contract worth $60 million (about Rs 300 crore) from Iraq for the construction of four high voltage gas insulated substations.

Gail gained after the state-owned gas utility company plans to sell part of its 4.6 per cent stake in Hong Kong-listed, city gas distribution firm, China Gas Holdings.

Realty stocks were in the limelight with the index gaining 1 per cent. Gainers from the space were Anant Raj, HDIL, Indiabulls and Parsvnath.

Mahindra and Mahindra jumped 1 per cent after the company posted a 30 per cent growth in retail sales in the United States of America for FY-13 selling over 10,000 tractors.

Meanwhile, markets in Asia were trading higher led by strong gains in the Nikkei.

Read more about: sensex, nifty
Story first published: Wednesday, April 17, 2013, 9:30 [IST]
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