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Markets Trade Higher, Idea Vodafone Shares Surge 8%

Sunil Fernandes
·1-min read

Benchmark indices were trading virtually marginally higher, after a sharp fall last week, even as global cues remained quite. The Sensex was trading higher by 96 10 points, while the Nifty gained 32 points in early trade.

Idea Vodafone shares jumped 8 per cent after the company is slated to make an announcement later today. The stock was last seen trading at Rs 13 on the National Stock Exchange.

Shares in Coal India were trading flat after reports that the company has reduced the output target to 660 million from 710 million for FY21.

IDFC Bank shares gained despite reports of the resignation of Rajiv Lall resigns as part-time non-executive chairman of the bank citing prolonged health issues.

Canara Bank and Union Bank both saw their shares declining after Moody's downgraded the long-term local and foreign currency deposit ratings of these banks.

Nifty stocks that were positive today in early trade were Bharti Infratel, Grasim, Tata Motors, Eicher Motors and Adani Ports.

On the other hand Nifty stocks that lost ground were Kotak Mahindra Bank, HDFC Bank, Mahindra and Mahindra, JSW Steel and Bajaj Auto. Meanwhile, Asian markets were trading mixed with the Japanese Nikkei down marginally and the Hong Kong's Hang Sanf trading with gains.

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