Sensex, Nifty Open Higher; IT Stocks Lead Rebound

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The Sensex and the Nifty opened the day higher as stocks from the IT sector which saw a sharp fall before Christmas saw a sharp rebound in trade.

The Sensex was trading higher by 104 points, while the Nifty rallied 40 points in trade. Leading the set of gainers from the Sensex were Infosys, TCS and select banking stocks like ICICI Bank and HDFC Bank.

Sensex, Nifty Open Higher; IT Stocks Lead Rebound
SpiceJet continued to see buying in trade on reports that J P Morgan Chase is in advanced talks to team up with Ajay Singh to infuse money in the airline.

Shares in Bharti Airtel were trading marginally lower after reports that the company's prepaid customers will be charged more for voice and video calls made on Skype, Viber and similar services. The stock was down one per cent in trade.

Shares in Tata Chemicals company was trading higher after reports that the company is planning to expand its nutrition and wellness business by using latest innovations and technologies.

Midcap stocks were seeing good buying support in trade with Voltas and United Phosphorus among the early gainers in trade.

Meanwhile, Asian markets were trading marginally higher led by strong gains in the Taiwan Weighted and Seoul Composite.

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