Indian Shares Modestly Higher In Early Trade
(RTTNews) - Indian shares opened higher on Thursday amid positive cues and the weekly F&O contract expiry.
The benchmark S&P/BSE Sensex rose 285 points, or half a percent, to 59,370 in early trade, while the broader NSE Nifty index was up 75 points, or 0.4 percent, at 17,680.
IDBI Bank rallied 2.4 percent on reports that the government is mulling selling at least 51 percent stake in the bank.
ONGC rose about 1 percent as oil prices climbed for a third straight session on data showing the U.S. shipped a record amount of crude and refined products overseas last week.
Also, the company has relaunched a tender to sell gas from its KG fields at a higher price of $15 per mmBtu.
Bharti Airtel gained more than 1 percent. Singapore Telecommunications is selling 3.3 percent stake in the telecom major to Bharti Telecom Ltd for $1.61 billion.
NHPC climbed 2.1 percent after it signed a pact with Bharat Electronics to set up a large capacity solar equipment manufacturing facility. Shares of the latter rose 1 percent.
Canara Bank advanced 1.4 percent on fund raising reports. PSP Projects soared almost 5 percent on securing contracts worth Rs. 247.35 crore from precast and government segments.
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