Sensex, Nifty open higher on strong global cues

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Sensex, Nifty open higher on strong global cues
Benchmark indices hit another record in trade opening the day higher on strong global cues. The Sensex was trading higher by 60 points, while the Nifty rallied 15 points in trade.

Leading the set of gainers from the Nifty were Cairn India, Larsen and Toubro and Lupin. Jindal Steel which has been falling since the Supreme Court verdict on coal block allocations managed to gain ground in trade today.

Bhushan Steel continued to be locked at the lower end of the circuit filter in trade. Nifty stocks that lost ground in trade were HDFC Bank, Sun Pharma and TCS. DLF continued to trade lower after a fine was imposed on the company. A leading brokerage firm downgraded the stock.

PSU banking stocks continued to languish for a second straight day. Stocks like IDBI Bank, Union Bank and Andhra Bank were lower in trade.

Shares in UPL were also down as the RBI put the stock under the caution list as the stipulated foreign investment limit in the company has been reached.

The mid cap index was trading flat in line with the broader markets.

Meanwhile, markets in Asia were trading mixed with the Japanese Nikkei trading lower, while most of the other Asian markets were trading with gains.

Story first published: Thursday, August 28, 2014, 9:32 [IST]
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