Sensex, Nifty open higher as S&P 500 hits another record

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Sensex, Nifty open higher as S&P 500 hits another record
Strong global cues from the US, particularly after the S&P 500 hit another record high pushed Indian benchmark indices higher with the Sensex opening 114 points higher and the Nifty 30 points.

Early Nifty gainers were Coal India, Hindalco, State Bank of India and Sesa Sterlite. Sun Pharma, Wipro and Tata Power were the only Sensex stocks that were weak in early trade.

Axis Bank was trading marginally lower ahead of its results. Bank of Baroda was up after the The Reserve Bank lifted the ban imposed on foreign investors to buy shares in the bank.

Select mid cap stocks saw some buying interest with IFCI, NHPC and Syndicate Bank among the gainers. Shares in Infosys rallied after the company said that it had secured a multi-year deal from automaker maker Daimler AG for the management of infrastructure services and data centres.

Sesa Sterlite was in the limelight after reports that both the NSE and the BSE had cleared the proposed merger of the firms.

Cairn India and Yes Bank were trading marginally higher ahead of their results to be declared later today.

Real estate stocks were having a good session with Unitech, Sobha and Prestige among the early gainers. Meanwhile, almost all of the Asian markets were trading higher after record closing in the US.

Story first published: Wednesday, July 23, 2014, 9:31 [IST]
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