Markets Open Higher; Asian Cues Strong

Published: Monday, August 1, 2016, 9:25 [IST]

Benchmark indices opened the day strong as Asian markets were trading mixed, with the Chinese Shanghai Composite lower, following weak manufacturing data.

The Korean Kospi and the Hang Sang, however, were trading with gains. The Japanese Nikkei too was higher, following a drop in the Yen against the dollar.

Leading the set of losers in early trade was ICICI Bank, after the bank reported a weak set ofquarterly numbers. The stock was down 0.50 per cent in trade.

Shares in Larsen and Toubro, however, had a good session after the company reported results that matched expectations. The stock was up 0.40 per cent in trade.

Tech Mahindra and Interglobe Aviation were trading lower ahead of their results to be declared later today.

Auto stocks were slightly higher ahead of auto numbers to be declared later today. Mahindra and Mahindra was trading higher, while Maruti too was up in trade.

Midcap stocks on the other hand were having a good session in trade with Arvind, leading the set of gainers. Other notable gainers from the Midcap space were IRB Infra and IDBI Bank.
Kansai Nerolac continued to rally, following a good set of numbers. The stock was up 3 per cent in trade.

Meanwhile, the rupee opened steady at 67.02 to the US dollar. Check rupee rates here

GoodReturns.in

Story first published: Monday, August 1, 2016, 9:25 [IST]