Sensex, Nifty Modestly Higher In Early Trade
(RTTNews) - Indian shares opened on a positive note Tuesday on improved risk sentiment after data showed domestic retail inflation declined to levels below the RBI's tolerance level in November.
The upside remained capped ahead of U.S. inflation data due out later in the day and ahead of this week's monetary policy meetings in the United States. Europe, United Kingdom and Switzerland.
The benchmark S&P BSE Sensex rose 130 points, or 0.2 percent, to 62,261 in early trade, while the broader NSE Nifty index was up 38 points, or 0.2 percent, at 18,534.
Rate-sensitive financials and automakers were moving higher, with Bajaj Finance, Mahindra & Mahindra, IndusInd Bank and Hero MotoCorp all rising around 1 percent.
Yes Bank jumped 4 percent to extend recent gains after receiving RBI approval to proceed with its capital raise from Carlyle Group and Verventa Holdings.
Exide Industries gained about 1 percent on news it would explore the possibility of merger of its two wholly owned subsidiaries i.e. "Exide Leclanche Energy Private Limited" and "Exide Energy Solutions.
Tata Motors added 1 percent on news it is considering the possibility of partial divestment of its investment in subsidiary Tata Technologies [TTL] through an IPO route at an opportune time.
Jaiprakash Associates slumped 5.5 percent after selling its cement assets to Dalmia Cement, a subsidiary of Dalmia Bharat for Rs 5,666 crore. Dalmia Bharat shares plunged 4.2 percent.
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