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Sensex, Nifty See Modest Gains After Two Days Of Losses
(RTTNews) - Indian shares opened slightly higher on Friday after two days of losses.
The benchmark S&P BSE Sensex rose 15 points, or 0.3 percent, to 60,508 while the broader NSE Nifty index was up 48 points, or 0.3 percent, at 18,040.
While firm cues from Asian lent some support, gains in the dollar index in overseas markets and rising Treasury yields served to limit the upside.
IDBI Bank jumped 3 percent. Market regulator SEBI has allowed the government's shareholding in the bank to be reclassified as "public" after its stake sale.
Reliance Industries rose over 1 percent. Its telecom arm Jio has signed an agreement to be the official mobile communications network partner of British football club Manchester City in India.
Vodafone Idea fell about 1 percent. Equity conversion by the government is a complex issue which is under discussion, Minister of Communications Ashwini Vaishnaw said. Mahindra & Mahindra Financial Services dropped half a percent. The RBI has lifted restrictions imposed on loan recovery via outsourcing.
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