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Sensex, Nifty open the day higher on strong global cues

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Sensex, Nifty open the day higher on strong global cues
The Sensex and the Nifty opened the day higher on the back of strong global cues with banking stocks leading the rally in trade. The Sensex was trading higher by 170 points, while the Nifty rallied 46 points in early trade at 7540 points.

Bharti Airtel was up 1.2 per cent in trade on reports that the company has signed a definitive agreement with Loop Mobile to take over the Mumbai operator's telecom network. The stock was trading up one per cent in trade.

 

ITC which was badly battered on Monday and fell on reports of an excise duty on cigarettes in the forthcoming budget was trading higher by 1.7 per cent in trade.

Other stocks that gained from the Nifty were GAIL, BPCL and Tata Power. ONGC which had rallied sharply in trade on Monday gave up ground and fell one per cent.

Banking stocks were leading gainers on the Nifty with State Bank of India up one per cent, while Canara Bank and Bank of India were the other gainers on the Nifty.

Reliance was up on reports of the possibility of increase in gas prices in the coming weeks. Mid cap stocks were also having a good session in trade with notable winners being IDBI Bank, Reliance Infra and Unitech.

Meanwhile, markets in Asia were trading higher led by gains in the Jakarta Composite and the Hong Kong's Hang Sang.

GoodReturns.in

Story first published: Tuesday, June 24, 2014, 9:31 [IST]
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