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Markets Open Higher On Strong Global Cues


Benchmark indices opened the day strong, as global cues remained solid and investors put the recent Brexit behind them.


Markets Open Higher On Strong Global Cues
European markets rallied last night after days of losses with the German Dax, UK's FTSE and French CAC all higher. This led to a sharp rally in the US indices, which also closed higher.

The Sensex was trading with gains of 126 points, while the Nifty rallied 41points in trade. Shares in DLF gained, after reports that Billionaire KP Singh and his family have decided to wipe out DLF Ltd's debt in a ttwo step transaction.

The stock was up 6 per cent in trade, following the reports. State Bank of India was up after reports that the Bank would sell non core assets to share up its capital.

BPCL and Grasim were the two stocks that lost ground in early trade. Shares in banking stocks were mostly hhigher led by gains in Axis Bank and ICICI Bank.

Mid cap stocks were also trading higher, with the index up 0.50 per cent. Early midcap gainers were Jubilant Foodworks and Apollo Tyres.

Meanwhile, the rupee opened highar at 67.78 to the US dollar. Check currency rates here

Most Asian markets were trading higher led by gains in the Hong Kong's Hang Sang and the Japanese Nikkei.

Read more about: sensex nifty
Story first published: Wednesday, June 29, 2016, 9:31 [IST]
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