Sensex, Nifty Modestly Higher; IT Stocks Drag On Accenture's Warning
(RTTNews) - Indian shares were slightly higher on Friday after opening on a subdued note due to muted global cues.
The benchmark S&P/BSE Sensex was up 224 points, or 0.3 percent, at 76,572 in early trade while the broader NSE Nifty index edged up by 73 points, or 0.3 percent, to 23,263.
Among the top gainers, Bajaj Auto, Nestle India, Hero MotoCorp, Sun Pharma and Bajaj Finance were up 1-3 percent.
IT stocks were broadly lower after Accenture said changes in how the new Trump administration approaches spending is adding a new level of uncertainty for the company.
Jio Financial Services gained 1 percent on reports that it has reached a preliminary agreement with Germany's Allianz SE to launch an insurance business in India, according to a Bloomberg report.
RailTel Corporation of India surged 5.6 percent on winning a work order worth Rs. 16.89 crore from the Ministry of Defence.
Manappuram Finance rallied 2.2 percent on news the company will issue shares worth Rs 4,385 crore to Bain Capital at Rs 236 per share.
Adani Enterprises rose 0.7 percent after incorporating a new joint venture, Praneetha Ecocables Ltd (PEL), through its wholly owned subsidiary, Kutch Copper Limited (KCL).
Hindustan Unilever edged down slightly after its board approved an investment to acquire a 14.3 percent stake in Lucro Plastecycle, a company that specializes in recycling flexible plastics.
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