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Nifty Opens Higher As Asian Markets Recover; Nikkei Jumps


Benchmark indices saw early gains in trade, as Asian markets were trading firm, led by the Japanese Nikkei, after ferocious selling on Thursday.


Nifty Opens Higher As Asian Markets Recover; Nikkei Jumps
A bounce back in Asia saw the Sensex too gain ground with the index higher by 181 points, while the Nifty was higher by 46 points. Leading the set of gainers in trade were select banking stocks led by ICICI Bank.

Sugar stocks saw some early losses after the government imposed 20 percent customs duty on sugar exports to boost domestic supply and check prices which are ruling high at Rs 40/kg. Oudh Sugars, Balrampur Chini, Dhampur Sugars and most other stocks were trading lower.

PSU banks, which saw a sharp spike in their share prices on Thursday, continued to rally Stocks like PNB, Bank of India and Indian Bank gained ground.

Shares in Kajaria Ceramics rallied after the company's board approved a stock split from Rs 2 to Rs 1.

Shares in Carborundum Universal jumped after foreign investors were allowed to buy higher shares in the company.

Midcap shares were seeing good action as well with stocks like GMR Infra and Canara Bank among the early gainers.

Meanwhile, markets across Asia were trading with gains led by the Japanese Nikkei and the Hang Sang. US Markets saw good closing, despite worries over the UK referendum slated for June 23. The rupee was last trading at 67.13 to the US Dollar.

Read more about: sensex nifty
Story first published: Friday, June 17, 2016, 9:25 [IST]
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