Sensex, Nifty Open Higher In Cautious Trade
(RTTNews) - Indian shares opened on a positive note Wednesday after U.S. Commerce Secretary Howard Lutnick suggested that the Trump administration may reach a tariffs compromise with Mexico and Canada.
A potential deal is expected to involve reducing, at least partially, the new 25 percent tariffs on imports from both countries.
The benchmark S&P BSE Sensex was up 510 points, or 0.7 percent, at 73,499 in early trade while the broader NSE Nifty index rose by 164 points, or 0.7 percent, to 22,246.
Among the top gainers, Eicher Motors, Adani Ports, Adani Enterprises, Mahindra & Mahindra and Tata Steel surged 2-3 percent. Anand Rathi Wealth shares fell 4.5 percent on turning ex-bonus.
Power Grid Corporation of India gained nearly 2 percent after it was declared the successful bidder for three projects to establish an inter-state transmission system under the BOOT basis.
Adani Wilmar surged 5.6 percent after it agreed to acquire GD Foods Manufacturing (India), the owner of the 'Tops' brand.
Biocon gained 2 percent after its subsidiary, Biocon Pharma, received final approvals for its two ANDAs - Lenalidomide capsules and Dasatinib tablets - from the USFDA.
Rail Vikas Nigam soared 5.2 percent on winning an order worth Rs 729.82 crore from HPSEBL.
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