Sensex, Nifty open higher as Asian markets rebound

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Sensex, Nifty open higher as Asian markets rebound
The Sensex and the Nifty gained ground in trade today on better cues from Asia with most of the Asian markets trading higher. The Sensex was trading marginally higher by 75 points, while the Nifty gained 25 points in early trade today.

Banking stocks were in the limelight with notable gainers from the space being Canara Bank, ICICI Bank and Bank of India.
Other notable gainers from the space were Union Bank of India and State Bank of India.

Telecom shares were trading firm despite a Court order for auditing the revenue of telecom companies. Bharti Airtel and Idea Cellular were both marginally up.

Pharma shares continued to see bargain buying at lower levels with Cipla and Ranbaxy Laboratories trading higher.
Top Nifty gainers apart from ICICI Bank was Jaiprakash Associates and Hero Motor Corp. Top Nifty losers on the other hand were Grasim HCL Tech and TCS.

Infosys was trading firm ahead of its results to be declared later this week.

Mid cap stocks saw a sharp bounce in trade today with notable gainers being Apollo Tyres, which rallied 3 per cent, Godrej Industries which rallied 1 per cent and Voltas was up 1 per cent in trade.

Realty stocks were having a great day in trade with gainers being DLF, Indiabulls Realty, Sobha Developers and Anant Raj.
Meanwhile, most of Asia was trading with gains with the Hong Kong's Hang Sang, the Singapore Strait Times and the Korean Kospi marginally up.

Story first published: Tuesday, January 7, 2014, 9:35 [IST]
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