Sensex, Trades Marginally Higher on Global Cues, Obama Visit

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Markets were trading higher as global cues remained strong despite anti austerity party victory in Europe. Obama's visit and signing of a few deals pushed indices higher with the Sensex up 64 points, while the Nifty was trading higher by 3 points.

Tata Power continued to rally in trade and was up 2 per cent after gaining as much as 5 per cent on Friday. Shares in TVS motors were up after the company was included in the NSE Nifty Midcap Index.

Sensex, Trades Marginally Higher on Global Cues, Obama Visit
Infosys was the top loser in trade and the stock was down more than 2 per cent. Other stocks that added pressure to the Nifty were Kotak Mahindra and Hindalco.

HDFC and ITC were the 2 heavyweights that gained ground in trade, along with TCS and ACC. Shares in banking stocks also gained ground with ICICI Bank and Axis Bank among the gainers.

Union Bank was trading higher ahead of its results to be declared later today. Other PSU banks were trading slightly flat to negative in trade.

Ultratech Cement was trading marginally lower after the company's profits came in more or less on expected lines.

Midcap stocks were trading marginally higher with Jian Irrigation and UPL among the gainers. Meanwhile, markets in Asia were higher, despite worries over the Greece election results, in which an anti-austerity part was voted to power.

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