Markets Open Higher; Banking Stocks Rally

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Benchmark indices gained in trade, with the Sensex rallying 155 points, as global markets remained buoyant. The Nifty on the other hand saw gains of 55 points at 8,575 points.

Leading the set of gainers were some of the banking stocks, led by ICICI Bank, which rallied for the second day in a row.

Markets Open Higher; Banking Stocks Rally
The rally was largely after an Economic times reports that said the Roseneft-Essar deal would see a direct benefit of $750 million to a $1 billion coming in for ICICI Bank.

Among the early gainers in trade were Tata Steel, Vedanta, HDFC, ICICI Bank and Gas Authority of India. The losers in trade were Bharti Airtel and Tata Consultancy Services.

The high beta, realty sectors saw the maximum gains in trade. Among the stocks from the sector that gained were HDIL and DLF.

Bharti Airtel and Tata Consultancy Services (TCS), were the only stocks from the Nifty that lost ground in trade.

Meanwhile, markets across Asia were trading with gains with the Japanese Nikkei and the Hang Sang seeing smart up moves.

Read more about: sensex, nifty
Story first published: Tuesday, October 18, 2016, 10:20 [IST]
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