Sensex, Nifty trade positive; Axis Bank up 1.27%

Indian markets open positive on Thursday as the Sensex was trading at 29,232.40, up 64 points or 0.22%, while Nifty was trading at 9,056.30, up 25 points. 

Top gainers on BSE were - Axis Bank at Rs 490.65 per share (1.27%), followed by Larsen & Toubro at Rs 1547 per share (1.11%), Hero Motocorp at Rs 3344.60 per share (1.03%), Tata Motors at Rs 463.15 per share (0.67) and Tata Steel at Rs 491.75 per share (0.61%). 

Mahindra & Mahindra shares were trading marginally up at Rs 1278.50 per share on BSE after the company on Wednesday said it's subsidiary (Mahindra Retail Private Limited) has sold entire shareholding in Mahindra Internet Commerce Private Limited. 

Losers on BSE - ITC (Rs 278.55 per share), HDFC Bank (Rs 1428 per share) and Bharti Airtel (Rs 338 per share) trading negative in range of 0.10% - 0.50%. 

HDFC Securities said, "Markets are likely to open with a tinge of green this morning after a large sell off yesterday. We are expecting nifty to find buying support near 8980-9020 range. Mid caps and small caps are the ponds where we will find more fish.  Stocks like Hindustan zinc who have announced large interim dividend will be in limelight."

Motilal Oswal said, "Index started to form lower highs – lower lows from last three sessions and requires to negate the same to get stability in the market. Now if it manages to cross and hold above 9075 then only we may see a move towards 9119 then 9160 while on the downside next supports are seen at 8980 then 8920 levels."

Meanwhile rupee is trading higher against US dollar, at 65.425 up by 0.050 paisa or 0.08% against dollar.