Indian shares followed global peers higher on Friday as U.S. Federal Reserve Chair Jerome Powell reiterated the central bank’s commitment to tame inflation.
The benchmark S&P/BSE Sensex rose nearly 300 points, or half a percent, to 59,984 in early trade, while the broader NSE Nifty index was up 92 points, or half a percent, at 17,891.
Among the top gainers, Adani Ports, Hindalco, Shree Cement, UPL and IndusInd Bank rallied 2-3 percent.
Mahindra & Mahindra was little changed after unveiling its first electric sports utility vehicle — XUV 400.
Vodafone Idea gained 1.7 percent on reports that the government will acquire a stake in the debt-ridden telecom company after the stock price stabilizes at Rs.10 or above.
HDFC Bank edged up slightly after raising Rs 3,000 crore from bonds.
Tata Power rose half a percent. Tata Power Renewable Energy said it would set up a 100 MW solar power plant for Viraj Profile in Maharashtra.
Reliance Power slumped 6 percent after its board cleared a proposal to issue up to 60 crore equity shares and/or warrants at an issue price of Rs 15.55 per share.
NTPC rose over 1 percent on reports it has signed a pact with the armed forces to supply renewable energy power.
Market Analysis
Indian Shares Follow Global Peers Higher
2022-09-09 04:25:49
