Equity benchmarks started off trade marginally higher on Thursday with the Sensex rising 42.89 points to 28415.12 despite mixed Asian cues.
The Nifty is inching towards 8750, up 11.30 points at 8737.90.
Asian Paints, HDFC, Reliance Industries, ICICI Bank, HDFC Bank and ITC were early gainers while Infosys, Axis Bank, Hero Motocorp, L&T and Tata Steel were under pressure.
Tata Power gained more than a percent after its unit acquired Welspun Renewables Energy Private Ltd while Reliance Communications rose nearly 2 percent on merger with Aircel.
Yes Bank fell nearly 4 percent on a media report the Securities & Exchange Board of India is looking into the lender’s notices to stock exchanges about the planned equity placement (QIP), the surge in the Yes Bank scrip in the run-up to the issue date and its intra-day fall before the announcement to call off the issue.
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The Indian rupee has opened at 66.88 a dollar compared with 66.89 a dollar in previous session.
The currency closed marginally higher at 66.89 a dollar yesterday compared with 66.92 a dollar on Monday.
Markets in Asia were mixed, following a mixed finish in the US as oil prices dropped further and uncertainty lingered over key central bank policy meetings next week. Nikkei fell over a percent and Shanghai was down 0.7 percent while Hang Seng gained 0.6 percent.