Sensex, Nifty Open Higher On Fed Optimism
(RTTNews) - Indian shares traded higher in early trade on Thursday, as optimism about the Federal Reserve ending its interest rate hikes outweighed mixed macroeconomic data and muted earnings from IT majors.
The benchmark S&P/BSE Sensex was up 455 points, or 0.7 percent, at 65,849 while the broader NSE Nifty index was up 128 points, or 0.7 percent, at 19,512.
Hindalco rallied 2.5 percent after its board approved a proposal to sell land situated in Maharashtra.
Hero MotoCorp, LTMindTree and HDFC Life were up 1-2 percent.
TCS rose 1.6 percent while HCL Technologies fell 1.5 percent after delivering muted June quarter earnings.
SpiceJet jumped 3.4 percent on news its promoter Ajay Singh will infuse Rs 500 crore into the airline by way of subscribing fresh equity shares and/or convertible instruments.
Patanjali Foods slumped 5 percent after launching an offer for sale by one of its promoters.
Delta Corp fell about 1 percent after plunging 23 percent in the previous session as Revenue Secretary Sanjay Malhotra ruled out any move for a review or roll-back of a 28 percent levy on online gaming firms.
Prestige Estates Projects declined 2.3 percent despite reporting a 30 percent increase in June quarter sale.
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