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Nifty Opens Higher In Trade; PSU Banking Stocks Rally


Benchmark indices opened the day higher in trade led by rally in select banking stocks like ICICI Bank and State Bank of India.


Nifty Opens Higher In Trade; PSU Banking Stocks Rally
The Sensex was trading with gains of 178 points, while the Nifty rallied 43 points in trade. Shares in Kotak Mahindra Bank was the top loser from the Nifty after its results did not match expectations.

ICICI Bank was leading gainers ahead of its results to be declared later today. HCL Tech, Mahindra and Mahindra and Tata Power were the other gainers in trade.

SUN TV Network was trading higher for the third successive trading session and has now gained almost 20 per cent in 3 trading sessions. The company is to declare quarterly numbers and interim dividend later today.

Shares in Maruti Suzuki which has rallied sharply following a good set of results was seeing marginal selling pressure. Larsen and Toubro also was seeing some selling pressure in early trade.

Metal stocks continued to remain subdued with NMDC and Vedanta among the early losers in trade. In fact, NMDC hit a 52-week low once again in trade.

Real estate stocks were finally seeing some traction with DLF and Unitech among the winners. Meanwhile, most of the Asian markets were trading higher with the Shanghai Composite and Strait Times under performing.

Story first published: Friday, July 31, 2015, 9:33 [IST]
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