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Indian Markets Open Higher; Asia Remains Subdued
Benchmark Indian indices opened higher in trade, ahead of a decision by the US Fed on interest rates. The Sensex was trading with gains of 156 points at 35,326, while the Nifty was up 24 points at 10,764 points.
P C Jewellers finally gained in trade, with the stock up 2 per cent, after plunging almost 40 per cent last week. Hero Motor Corp was trading marginally higher ahead of its results to be declared later today. HCL Tech too was lower after the company reported a net profit stood of Rs 2,227 crore, a growth of 1.5 percent compared to the December quarter. The stock was down a huge 4 per cent in trade.
Kansai Nerolac was trading higher ahead of its numbers. Meanwhile, Asian markets were subdued ahead of a key decision by the US Fed on interest rate hikes in the US.
Shares in HDFC were marginally higher, after the company reported profits that were in line with estimates. Select brokerage houses have revised their target upwards on the stock.
The Japanese Nikkei eased a bit by 0.3 per cent, while the Korean Kopsi too was marginally lower in trade today. The Dow Jones Industrial Average had closed lower in trade on Friday.
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