Sensex, Nifty Open Higher On Strong Global Cues

Markets had a strong start to the week ahead of the Union Budget to be declared later towards the end of the week.

Indices

The Sensex was trading higher by 88 points, while the Nifty rallied 23 points in trade. Leading the set of gainers from the Sensex and the Nifty were metal stocks like Hindalco and Sesa Sterlite. Both the stocks were up almost 2 per cent in trade.

Reliance continued to see selling pressure for the second day in a row. The stock had lost ground on Friday following some adverse reports in the corporate espionage case.

DLF and Jindal Steel were trading lower after the company's shares would be excluded from the Nifty next month.

Banking stocks were witnessing a steady trend, with Axis Bank and ICICI Bank among the gainers, while Yes Bank rallied following its inclusion into the Nifty.

Shares in Idea Cellular also gained ground following its inclusion into the Nifty stocks. Kotak Mahindra Bank saw some traction in early trade after CCI cleared the bank's merger with ING Vysya Bank.

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Story first published: Monday, February 23, 2015, 9:40 [IST]

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