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Markets open higher in early trade

Share Source By

Dion Global

11 Jan 2017

The key domestic benchmark indices opened higher in the morning trading session tracking firm cues from fellow Asian peers as investors remained focused to President-elect Donald Trump's first news conference later in the day.

Investors are also expected to react to the World Bank projection of GDP growth to 7 per cent for FY17 from 7.6 per cent estimated earlier.

Stocks of South Bank, Mpilcorpl, ISFL, Bancoindia and Alpha will remain in focus as they will unveil their third quarter earnings later today.

At 09:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 27003.20 up by 103.64 points or by 0.39 per cent, while the NSE Nifty was at 8323.80 points, trading higher by 35.20 points or by 0.42 per cent.

The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 199.90,+1.01 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 3075.00,+0.87 per cent), Tata Steel Ltd. (Rs. 434.20,+0.77 per cent), Infosys Ltd. (Rs. 978.00,+0.76 per cent), Axis Bank Ltd. (Rs. 450.55,+0.72 per cent), among others.

Meanwhile, Bajaj Auto Ltd. (Rs. 2700.10,-1.48 per cent), Wipro Ltd. (Rs. 475.00,-0.31 per cent), ITC Ltd. (Rs. 248.25,-0.26 per cent), GAIL (India) Ltd. (Rs. 440.00,-0.15 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 412 shares traded, 315 shares advanced, 73 shares declined while 24 were unchanged.

On the global front, Asian stocks were trading higher today as investors remained focused to President-elect Donald Trump's first news conference later in the day while the US markets closed on a mixed note in the previous trading session as traders booked some profit ahead of the President-elect Donald Trump's first news conference later today who promised of increased infrastructure spending and tax cuts.