Markets Open Sharply Higher; Sensex Rallies 215 Points

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, August 5, 2015, 9:41 [IST]

Benchmark indices opened the day sharply higher led by solid gains in Bharti Airtel which reported numbers that beat market expectations. Check top Sensex gainers and losers

The Sensex was trading with gains of 190 points, while the Nifty rallied 55 points in early trade. Bharti Airtel shares led gainers with a sharp rally of almost 3 per cent after its results beat market expectations. Other gainers in early trade included the likes of Reliance and ONGC.

Tata Steel continued to rally for the second straight day on reports that the government would raise duty on select steel products. Hindalco and Vedanta were the other gainers from the metals and mining space.

Technology stocks saw some good buying support after the rupee which had rallied sharply against the dollar on Tuesday weakened. Shares of Infosys and TCS were among the gainers.

Nifty stocks that lost ground in trade were GAIL, ITC and Dr Reddy's Labs. Shares in SUN TV which had seen a good rally in the last few trading sessions lost ground in trade.

Meanwhile, markets across Asia were trading with gains with the Shanghai Composite and the Japanese Nikkei among the early gainers.

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