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Sensex, Nifty Trade Marginally Higher; ITC Slumps


Benchmark indices were trading marginally higher despite a three per cent slump in the ITC stock following a ban on loose cigarettes by the govt.


Sensex, Nifty Trade Marginally Higher; ITC Slumps
The Sensex was trading higher by 35 points while the Nifty was up 7 points in early trade. Leading the set of gainers from the index were stocks like Grasim, HDFC and Hero Motor Corp.

Shares in cement companies continued to rally with Ultratech Cement and ACC among the winners. Hindustan Unilever was once again up in trade after having seen a mild reaction to its price on Tuesday. Yes Bank was trading higher ahead of its results to be declared later today. Shares in Jet Airways fell sharply after reports that Narendra Goyal had pledged his entire shares to Punjab national Bank. The stock was down 6 per cent in trade.

Oil marketing companies continued to see buying interest as global oil prices continued to tumble. HPCL and BPCL were among the gainers in trade.

IndusInd Bank and Lakshmi Vilas Bank which reported a good set of numbers continued to see buying interest and were trading higher.

Meanwhile, markets across Asia were trading with gains led by the Shanghai Composite and the Singapore's Strait Times.

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