Markets open higher as China inflation eases

Markets opened the day significantly higher in line with Asian markets, which rallied to a three-month high after Chinese consumer inflation eased. The BSE Sensex was trading 75 points higher at 17675 points, while the Nifty was trading higher by 21 points at 9.20 am IST.

Stocks that gained in trade amongst the Nifty stocks were Mahindra and Mahindra, ICICI Bank and Coal India. Tata Motors gained 0.85% ahead of its results to be declared later today.

Among the stocks that lost heavy ground today were Bharti Airtel which slid more than 3.32% following a poor set of results declared on Wednesday. State Bank of India was up 0.67%, ahead of its results to be declared tomorrow.

Shares of Indiabulls Group companies were trading mixed following clarifications from the group. Veritas on Wednesday had issued stinging criticism against the group.

Markets are likely to take cues from the IIP data which is to be declared later today. Meanwhile, Asian markets were trading significantly higher, apart from Singapore's Strait times, which was down marginally by 0.50%.

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