Sensex, Nifty Edge Higher In Early Trade
(RTTNews) - Indian shares opened higher on Friday to extend gains for a third day running amid renewed China stimulus expectations and hopes for a soft landing for the U.S. economy.
The benchmark S&P BSE Sensex rose 290 points, or half a percent, to 54,469 in early trade, while the broader NSE Nifty index was up 92 points, or 0.6 percent, at 16,225.
Among the top gainers, Grasim, Axis Bank, Coal India and Larsen & Toubro rallied 2-4 percent.
Mahindra & Mahindra advanced 1.5 percent. British International Investment is investing Rs 1,925 crore or $250 million into a new electric passenger vehicle company to be set up by the company.
Tata Power rose 0.6 percent after it announced plans to spend Rs. 75,000 crore in five years on renewables.
TCS edged up slightly ahead of its earnings release.
Shriram City Union Finance fell about 1 percent after it received approval from equity shareholders and creditors for its merger with Shriram Transport Finance Company.
Dr Reddy's Laboratories was little changed. The U.S. FDA has issued Form 483 with two observations after inspection of its manufacturing facility in Srikakulam, A.P. Bank of Baroda traded flat on fund raising reports.
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