Sensex, Nifty Modestly Higher In Early Trade; Pharma Stocks Rally
(RTTNews) - Indian shares opened a tad higher on Friday despite weak cues from other Asian markets.
The benchmark S&P/BSE Sensex was up 293 points, or 0.4 percent, at 79,33 in early trade, after having suffered heavy losses in the previous session. The broader NSE Nifty index was up 113 points, or half a percent, at 24,027.
Adani Group stocks traded mostly higher after Abu Dhabi's International Holding Company (IHC) reaffirmed its support for the Group, saying its outlook on investments in the group remains unchanged despite the U.S. indictment of the conglomerate's founder chairman Gautam Adani.
Adani Enterprises, Adani Ports and Adani Power surged 2-4 percent while Adani Green Energy and Adani Energy Solutions both soared around 10 percent.
Dr Reddy's Laboratories rose over 1 percent after launching Toripalimab in India for patients diagnosed with nasopharyngeal carcinoma.
Pers Sun Pharma and Cipla both were up around 2 percent.
PC Jeweller jumped 4 percent after announcing the record date for a stock split.
State Bank of India edged up slightly. Its Chairman CS Setty said that the public sector lender is poised to touch the Rs 100 trillion mark in total business in the next financial year.
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