Sensex, Nifty trade higher on strong global cues

Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
     Sensex, Nifty trade higher on strong global cues
    Indices
    The Sensex and the Nifty opened the higher on the back of a rebound in global stock markets led by an upsurge in the US markets on Friday.
     

    The Sensex was trading higher by 206 points, while the Nifty gained 60 points in trade. Leading the set of gainers from the Nifty were Gail, Hindalco, Larsen and Toubro, Tata Power and Tata Steel. Shares in Tata Motors was trading higher ahead of its results to be declared later today.

    Adani Enterprises surged more than 4 per cent after the company reported a good upswing in profits. Early Nifty losers in trade were HCL Tech, Power Grid and Dr Reddy's.

    Shares in IDBI Bank were weak after reports that the Central Bureau of Investigation has launched a probe into how IDBI Bank loaned Rs 950 crore to Kingfisher Airlines (KFA) despite the now grounded airline's negative net worth and negative credit rating.

    Other PSU banking shares were trading higher led by gains in Allahabad Bank, Oriental Bank and Andhra Bank.

    Mid cap stocks were also seeing some traction in trade with notable gainers being CESC, Godrej Industries and Unitech.

    Realty stocks were in the limelight after reports that regulator Sebi said that norms for REITs would help entities with at least Rs 2 lakh investment to earn from completed real estate projects.

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

    GoodReturns.in

    Story first published: Monday, August 11, 2014, 9:27 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more