Sensex, Nifty Open Higher Ahead Of RBI Meet
(RTTNews) - Indian shares traded higher on Thursday as weak U.S. economic data reinforced speculation that the Federal Reserve will cut interest rates at least twice this year.
Investors also looked ahead to the Reserve Bank of India's (RBI) monetary policy decision on June 6, with the central bank widely expected to cut interest rates by 25 basis points for the third consecutive time.
The benchmark S&P BSE Sensex rose over 400 points, or half a percent, to 81,406 in early trade while the broader NSE Nifty index was up 123 points, or half a percent, at 24,742.
Among the top gainers, Eternal jumped more than 3 percent while Mahindra & Mahindra, Reliance Industries, Power Grid Corp and Adani Ports all were up around 1 percent.
KEC International rose about 1 percent on bagging new orders worth Rs. 2,211 crores across its key business segments.
Hindustan Aeronautics gained 1 percent after saying it is in discussions with General Electric (GE) for the engines for its Light Combat Aircraft (LCA) Mark 2.
Apollo Micro Systems fell nearly 1 percent after completing its preferential allotment of equity shares and convertible warrants worth over 416 crores.
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