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Sensex Opens Strong As Asian Markets Rebound


Benchmark indices opened the day higher, as Asian markets staged a rebound, after opening in the negative in early morning.

The rupee, which had weakened substantially in the last 2-weeks saw some buying support, with the currency opening at 67.27 to the USdollar. Check currency rates here

 Sensex Opens Strong As Asian Markets Rebound
The Sensex was trading with gains of 138 points, while the Nifty was higher by 39 points in early trade.

Leading the set of gainers in trade from the Nifty was ITC, which rallied a huge 6 per cent in trade, after the stock was upgraded by a number of brokerage firms.

Other notable gainers from the Nifty was Aurobindo Pharma and Tata Power.

Stocks that lost ground from the Nifty were Wipro, HDFC Bank and Hero Motor Corp.

Shares in Deccan Cement fell even after the company reported a 41 per cent rise in net profits. The stock was down 0.50 per cent in trade.

Finolex too saw a spectacular jump in trade after the company reported a solid rise in net profits. The stock was up 6 per cent in trade.

Just Dial was up 4 per cent, despite reporting lower net profits. Karnataka Bank rose for a second day in a row, after the company reported a good set of quarterly numbers.

Meanwhile, markets across Asia were trading with gains, led by a strong rally in the Hang Sang and the Shanghai Composite.

Read more about: sensex nifty
Story first published: Monday, May 23, 2016, 9:29 [IST]
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