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Sensex, Nifty Modestly Higher In Early Trade
(RTTNews) - Indian shares were seeing modest gains in early trade on Wednesday amid optimism that falling crude oil prices will benefit import-reliant countries like India.
Declining U.S. bond yields, robust inflows from foreign portfolio investors on the back of favorable domestic macros and optimism over the outcome of state assembly election results also boosted sentiment.
The benchmark S&P BSE Sensex rose 175 points, or 0.3 percent, to 69,471, trading at a record high for a third consecutive session.
The broader NSE Nifty index was up 52 points, or 0.3 percent, at 20,907.
ITC, Adani Enterprises, UPI, LTIMindTree and Adani Ports were up 2-3 percent in the Nifty pack while NTPC, ICICI Bank and Bajaj Auto dropped 1-2 percent.
Power Grid Corp rose about 1 percent after emerging as a successful bidder to establish an interstate transmission system project.
SBC Exports rallied 3.4 percent after its board issued bonus shares in the ratio of 1:2.
JK Paper added nearly 2 percent on price hike buzz.
Himadri Specialty Chemical jumped 4 percent on news it would set up a plant for the manufacturing of lithium-ion batteries.
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