Sensex trades higher as Dow Jones hits a record 17,000 points

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Sensex trades higher as Dow Jones hits a record 17,000 points
The Sensex and the Nifty were trading higher after strong global cues with Asian markets higher following the Dow Jones Industrial Average closing above a record 17,000 points.

The Sensex was trading higher by 35 points led by gains in Tata Power, NTPC, Bharti Airtel and Mahindra and Mahindra.

Tata Motors was trading higher after reports that shareholders rejected proposals to pay higher salaries to three of the auto major's top executives including late Karl Slym.

ONGC was trading lower following reports that the centre may not allow older oil fields to double rates since capital investments have been recovered.

Sensex stocks that were weak in trade included TCS, ITC and Hindalco. Bharti Airtel was trading higher after reports that the Reserve Bank of India has increased the limit of investments by FIIs and registered foreign portfolio investors in the company.

Prestige Estates was up 4 per cent in trade after reports that the company had purchased a prime plot of 8 acres from Siemens.

Mid cap stocks were trading almost flat with a few stocks seeing notable losses including the likes of Steel Authority of India, Crompton Greaves, Glenmark Pharma. Realty stocks were having a mixed session in trade with Godrej, HDIL and Sobha down, while DB Realty and Anant Raj were trading with losses.

Meanwhile, most of the Asian markets were trading with gains following a record closing of the Dow Jones above the 17,000 points level.

Read more about: sensex, nifty
Story first published: Friday, July 4, 2014, 9:36 [IST]
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