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Indian Markets Open Higher; Banking Stocks Weak


Benchmark indices gained in trade, despite weak sentiments across Asian markets. The Sensex was trading with gains of 30 points at 26,199 points, while the Nifty gained 6 points in trade at 7961 points.


Early Nifty gainers were those from the metal pack including names like Vedanta, Tata Steel and Hindalco.

Indian Markets Open Higher; Banking Stocks Weak
Shares in Tata Motors fell after its sales numbers for the month of Nov disappointed the street. Banking stocks were trading steady, a day after the Reserve Bank of India's monetary policy, which kept interest rates on hold.

ICICI Bank, Kotak Mahindra Bank and State Bank of India were among the early losers in trade. JSW Steel was trading lower after the US court's decision to fine them $156 million on a antitrust conspiracy charges.

Coal India, which had seen a good rally in its share price on Tuesday dropped after production at the company fell.

Delta Corp was up almost 4 per cent after the company got a license for a casino at its Hotel Deltin Suites, Goa.

The midcap index was trading flat, though shares of TVS Motors declined a huge 4 per cent in trade. Bata India and SKS Micro were the top gainers from the midcap space.


Meanwhile, markets across Asia were trading with marginal losses, despite solid closings across the US markets.

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