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Sensex, Nifty Gain As US Senate Clears Debt Ceiling Bill
(RTTNews) - Indian shares opened on a positive note Friday, mirroring firm cues from global markets after the U.S. Senate approved a bipartisan deal to address the debt ceiling and implement budget cuts, avoiding a potential U.S. default.
The benchmark S&P BSE Sensex was up 222 points, or 0.4 percent, at 62.651 in early trade, while the broader NSE Nifty index was up 70 points, or 0.4 percent, at 18,558.
Metal stocks were trading higher, with JSW Steel, Tata Steel and Hindalco all rising over 1 percent.
Maruti Suzuki India edged up slightly on reporting a 15 percent increase in sales for May.
Hero MotoCorp jumped 3.4 percent after posting 7 percent growth in sales in May from last year.
Tata Motors was slightly higher and TVS Motor added 1.7 percent after reporting their monthly sales figures.
Adani Enterprises rose about 1 percent after it terminated an agreement with Macquarie Asia Infrastructure for the acquisition of a 100 percent stake in Swarna Tolley, and a 56.8 percent stake in Gujarat Road and Infrastructure Company.
SpiceJet tumbled 3 percent after the Delhi High Court ordered the airline to pay Rs.380 crore to its former promoter, Kalanithi Maran in a seven-year-old share transfer dispute.
Coal India dropped half a percent as its offer for sale opens for retail investors today.
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