Sensex, Nifty Open Higher Ahead Of Union Budget
(RTTNews) - Indian shares opened on a positive note Wednesday ahead of the Union Budget presentation and the Federal Reserve meeting.
The benchmark S&P/BSE Sensex rose 303 points, or half a percent, to 59,852 in early trade, while the broader NSE Nifty index was up 90 points, or half a percent, at 17,753.
Among the top gainers, JSW Steel, Divis Laboratories, Hindalco, ICICI Bank and Britannia Industries rallied 1-2 percent.
Indian Hotels soared 4 percent after its quarterly profit soared more than 400 percent.
Reliance Industries gained half a percent. Its FMCG arm Reliance Consumer Products has entered into a partnership with Sri Lanka's Maligan Biscuit to help it bite into the biscuits market.
Vodafone Idea edged down slightly after its board approved the issue of optionally convertible debentures of up to Rs 1,600 crore to vendor American Tower Corporation.
Adani Enterprises declined 1.6 percent. Its FPO got fully subscribed on the final day of bidding Tuesday, aided by a last-minute surge in demand.
Coal India was marginally higher on positing a 69 percent jump in Q3 net profit. Indian Oil Corporation was down 0.6 percent after its third-quarter net profit declined 92 percent due to under recoveries from sale of domestic LPG.
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