Sensex strong in early trades

After a massive fall of 447 points on the Sensex on Tuesday, the markets today opened in the green owing to positive Asian cues.

The Sensex opened at 16,069 and then soon zoomed to a high of 16,253 following strength in metal and realty stocks. The index is now at 16,228, up 205 points. The NSE Nifty is 64 points up 4,871.

Among the Sensex-30 stocks, Mahindra & Mahindra has advanced 3% to Rs 530. Hindalco Industries, Reliance Communications, Jaiprakash Associates, Sterlite Industries and Reliance Infrastructure are up over 2% each on the Sensex, up over 2% each.

The other major gainers are ICICI Bank, Tata Motors, DLF, HDFC Bank, Tata Steel and Jindal Steel, up 1.5% each.

Grasim Industries is trading at the adjusted price of Rs 1,911, post demerger of the cement business.

Hindustan Unilever is down 0.5% at Rs 228.