Markets Trade Higher, IndusInd Bank Top Gainer

It was a relatively strong opening for the markets on Friday, with the Nifty trading higher by 73 points. Global markets were subdued, with most of the Asian markets trading with just marginal gains.

The Nifty was last seen trading higher by 72 nearly points at 10,361 points, as today also marked the first day for the F&O July series. Shares in Reliance Industries gained ground after Fitch Ratings upgraded the ratings of Reliance Industries'long-term local-currency issuer default rating (IDR) to 'BBB+' from 'BBB', with a stable outlook. This was on the back of the recent fund raising by the company.

Shares in Realty developer Kolte-Patil gained despite the developer reporting a net loss of Rs 16.4 crore for the quarter ended March as against net profit of Rs 40.4 crore a year ago.

Coal India was trading higher ahead of results to be declared later today. Among the top Nifty gainers in trade were IndusInd Bank, ITC, Hindalco and ONGC.

Shares in Vedanta was marginally higher after shareholders approved the delisting plan. 93.34% votes polled in favour of the motion. Kotak Mahindra Bank and HeroMoto Corp were among the early losers from the Nifty.