Sensex Opens Higher On Strong Global Cues

Business

oi-Sunil Fernandes

The benchmark indices opened the day stronger, following superb global cues.

By Sunil Fernandes

Published: Tuesday, November 22, 2016, 9:25 [IST]

The Sensex opened the day higher, after falling for six straight days in a row on Monday, as almost all of the Asian markets were trading higher, after solid gains in the US.

The rupee also opened the day more or less at the same level as that of Monday, which added to the more stable trend. The Sensex was trading with gains of 207 points, while the Nifty was trading with gains of 66 points. On Monday, the Nifty had slumped almost 2 per cent to a new 6-month low.

Shares in Larsen and Toubro were trading marginally higher, ahead of the company's results to be declared later today. The company is likely to report a flat performance. PSU Banking stocks, which have been hammered out of shape, managed to trade with gains. Among the early gainers in trade were stocks like State Bank of India, Punjab National Bank and Bank of India. Hindalco was the top gainer from the Nifty in trade.

Midcap stocks, which were hammered out of shape on Monday, managed to show some gains. Shares in ONGC gained after crude prices rallied. Software stocks saw some buying interest with Infosys up more than 1 per cent in trade, while TCS and Wipro were among the other gainers in trade.

Meanwhile, the rupee opened trade at 68.10 to the dollar.

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