Nifty Trades Higher, M&M Top Nifty Gainer

Benchmark indices were trading higher once again, following a solid rally on Wednesday. Global cues were good, which helped support the markets, with financials and autos leading the rally once again.

The Nifty was trading with gains of 80 points at 10,515 points, thus crossing the 10,500 points mark. The Sensex was trading with gains of 257 points at 35,681 points. Among the early Nifty gainers in trade were Mahindra and Mahindra, IndusInd Bank, ONGC, Titan Company and Grasim.

Among the Nifty stocks that saw losses were UPL, Tech Mahindra and HUL.

After a solid jump on Wednesday, Axis Bank continued to gain on reports that the bank could raise as much as $1.2 billion through an equity share sale. The stock was up 1 per cent in trade.

Coal India shares gained marginally after the company said that production of Coal declined by 12.8 per cent to 39.20 million tonnes (MT) in June compared to 44.95 MT of coal in June last year.

HeroMoto Corp saw its shares gain as much as 2 per cent, after June sales numbers reported by the company were much better than most estimates. Analysts see a speedy recovery for the two-wheeler section.

Meanwhile, most of the Asian markets were trading with good gains.