Markets Open Higher; Sensex at 28415, Nifty at 8737

Mumbai: Equity benchmarks started off trade marginally higher on Thursday with the Sensex rising 42.89 points to 28415.12 despite mixed Asian cues. The Nifty is inching towards 8750, up 11.30 points at 8737.90.

Tata Power gained more than a percent after its unit acquired Welspun Renewables Energy Private Ltd while Reliance Communications rose nearly 2 percent on merger with Aircel.

Yes Bank fell nearly 4% on a media report the Securities & Exchange Board of India is looking into the lender's notices to stock exchanges about the planned equity placement (QIP), the surge in the Yes Bank scrip in the run-up to the issue date and its intra-day fall before the announcement to call off the issue.