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Markets open higher on strong global cues

Markets open higher on strong global cues
Markets opened the day higher on the back of strong global cues, after the S&P saw its biggest rally of 2014. The Sensex was last trading higher by 115 points, while the Nifty rallied 35 points in trade. Among the early gainers in trade was Coal India which rallied following a hefty dividend of Rs 29 per share paid by the company.

Other Nifty stocks that gained in trade were NMDC, Tata Motors and Bharti Airtel. The stock of TCS was up almost 2 per cent after buying interest ahead of its results on Jan 16. Yes Bank which is slated to declare its results was also up by 2.21 per cent, after yesterday's 1 per cent gain.

Nifty stocks that lost ground in trade were Lupin, ONGC and Cairn India. Mid cap stocks were having a good session in trade with notable gainers being HDIL, Jain Irrigation and Oriental Bank of Commerce.

Reliance Industries was once again strong in trade after reports that the company was bidding for a gas block in Venezuela.

Software stocks continued to hog the limelight with notable gainers being TCS, HCL Tech and Infosys. Shares of Liberty Shoes dropped even as the company reported a good set of numbers. The stock was down 2 per cent in trade.

Meanwhile, markets in Asia were trading firm on the back of strong global cues. The Japanese Nikkei was up 1.5 per cent, while the Jakarta Composite was up almost 1 per cent in trade.

Story first published: Wednesday, January 15, 2014, 9:36 [IST]
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