Sensex Trades Higher, Tech Mahindra Top Gainer

Benchmark indices opened a tad lower in trade, as most Asian markets saw some profit booking after relentless gains of the last few days. However, buying support led to reversal of losses.

The Nifty was last trading marginally higher by 33 points, while the Sensex gained 150 points in trade.

HDFC Standard Life saw its shares rally after reports that UK's Standard Life is looking to sell 4 crore shares in the company. HDFC, the promoter HDFC Life, sold 2.6 crore shares of the insurance company worth a little over Rs 1,274 crore on Wednesday. The shares of the company were up almost 3.5 per cent in trade.

Aurobindo Pharma saw its shares gain ground after the pharma major reported a 45.07 per cent rise in its consolidated net profit to Rs 848.99 crore for the quarter ending March 31. 2020. The stock was last up 3 per cent in trade at Rs 771.

Shares in Reliance Industries too gained ground and was up almost 1 per cent in trade, after the company saw its rights issue over subscribed by 1.59 times.

ICICI Bank, which had witnessed a sharp rally on Wednesday, continued to trade higher and was up 1 per cent in trade.