Markets open higher; pharma stocks lead

Sectorally, indices traded mixed with Nifty Metal leading the losers and Nifty Pharma leading the gainers.

Indian equity markets saw a positive opening on Tuesday. The Sensex rose 116 points at 38,330 and the Nifty was up 27 by points at 11,368 in opening trade. (9.28AM)

Sectorally, indices traded mixed with Nifty Metal leading the losers and Nifty Pharma leading the gainers.

IOC, Britannia, and HUL were the top gainers, trading up by over 1%. Infosys, ZEEL, and Bharti Infratel were the top losers on the NSE.  

HUL gained 1.42% after posting its Q2FY20 results. The company reported a net profit of Rs1,848cr during the July to September quarter, up 21% yoy. HUL's margin rose driven by an improved mix, softening commodity prices in large segments as well as savings agenda. The EBITDA was up 16% yoy at Rs2,443cr.

India Vix was at 17.03, down 2.29%.

33 stocks advanced and 17 declined on the Nifty50.

Asian stocks opened in the green led by the Japanese Nikkei which rose over 1.5% in early trade.

Asian markets are discounting the trade deal as done, with the China pause a minor blip which could pass over in the next few days.

Investor focus has now shifted to Europe where officials from Britain and the EU will meet at a make-or-break summit on Thursday and Friday that will determine whether or not Britain is headed for a so-called no-deal Brexit.

Meanwhile, the rupee opened flat at 71.24/$.

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