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Sensex Opens Higher As Global Markets Recover From Yuan Debacle


Benchmark indices opened the day higher after global markets saw recovery following sharp correction for 2 successive days after a sharp depreciation in the Yuan by Chinese authorities.

The Sensex was trading with gains of 253 points, while the Nifty rallied 73 points in trade. Check top Sensex gainers and losers

Sensex Opens Higher As Global Markets Recover From Yuan Debacle
Leading the set of gainers were banking stocks on hopes that the Reserve Bank of India may cut interest rates after CPI inflation fell sharply.

Banking gainers included the likes of ICICI Bank, State Bank, Canara Bank and Union Bank. Shares in ONGC were trading higher ahead of its results to be declared later today.

Metal stocks which were pounded for the last three trading sessions, managed to recover. Tata Steel, Vedanta and Hindalco were among the gainers.

Mid cap stocks which were hammered out of shape in the last few trading sessions saw some buying support.

Top Nifty gainers in trade included Bharti Airtel which rallied as much as 2 per cent and State Bank of India which was up almost 2 per cent in trade. Software stocks which had a superb rally in the last few days on sharp fall in the rupee dropped marginally. Infosys and TCS were among the early losers in trade.

Meanwhile, markets across Asia were trading higher following a recovery in the US markets from intra day lows.

Read more about: sensex nifty icici bank canara bank
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