Sensex, Nifty Open On Positive Note As Yields Slip On Rate-cut Optimism
(RTTNews) - Indian shares opened on a positive note Thursday as U.S. Treasury yields slipped on optimism for a Federal Reserve rate cut in June.
Overall gains remained modest as investors awaited key U.S. inflation data and Federal Reserve commentary for signals on the rate path.
The benchmark S&P BSE Sensex jumped 355 points, or half a percent, to 73,351 in early trade, while the broader NSE Nifty index was up 102 points, or half a percent, at 22,226.
Dr Reddy's Laboratories rose about 1 percent as it entered a distribution partnership with Sanofi Healthcare India Private to promote and distribute the latter's vaccine brands in India.
UltraTech Cement gained 1 percent after it agreed to buy 26 percent equity of O2 Renewable Energy.
SBI climbed 1.2 percent after hiking annual maintenance charges for debit cards. NHPC added 1 percent on fund raising reports.
Bharat Heavy Electricals rallied 2.4 percent on bagging an order worth Rs. 4,000 crores from Adani Power.
REC jumped 2 percent after its board approved a market borrowing plan of Rs. 1.6 lakh crore for the fiscal year 2025.
Texmaco Rail & Engineering rose 1.2 percent after raising Rs. 250 crores via a QIP issue.
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