Stock markets in India have opened the trading day, Thursday, on higher note amid mixed Asian cues. At 10.45 am, The BSE Sensex is trading higher by 30.24 points at 28185 while the NSE Nifty is trading higher by 13 points at 8737. In the broader market, the BSE Mid Cap index and BSE Small Cap index both have opened the day up by 0.1% and 0.2% respectively.
TCS gained 1.7 percent as it says the board of directors will consider buyback of shares on February 20.
The cabinet has sanctioned the merger of SBI's associates with the parent, State bank of India (SBI).
This merger will be a major game changer, as SBI will emerge having 1/4 of the market share in the Indian banking industry. SBI is trading at Rs 272.50 per share, up by Rs 3.55 per share or 1.32%. The stock touched high of Rs. 277 per share, up by Rs 8.05 share apiece or 2.99%.
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