Indian shares opened on a positive note Thursday, as lower commodity prices, particularly of crude oil, helped reduce risks of imported inflation.
The benchmark S&P BSE Sensex rose 280 points, or half a percent, to 54,030 in early trade, while the broader NSE Nifty index was up 90 points, or 0.6 percent, at 16,079.
Titan Company jumped 5 percent after its first-quarter sales jumped by 205 percent year-on-year.
Power Grid Corp, Asian Paints, NTPC and BPCL climbed 2-3 percent.
Punjab National Bank added 1.3 percent after raising Rs.2,000 crore via a bonds issue.
SpiceJet rose about 1 percent. The airline has received notice from the government for failing to establish safe, efficient and reliable air services.
Reliance Industries dropped 1 percent. Its arm Reliance Retail announced a long-term partnership with Gap to bring back the iconic American fashion brand to India.
Bharti Airtel edged down slightly after launching four new prepaid plans.
Market Analysis
Sensex, Nifty Climb As Oil Extends Declines On Recession Worries
2022-07-07 04:34:30
