Sensex, Nifty Marginally Higher; Kotak Bank Shares Fall 4%

(RTTNews) - Indian shares traded slightly higher in early trade on Thursday after the tone of the Federal Reserve's latest monetary policy decision appeared less hawkish than feared.

The benchmark S&P BSE Sensex rose 108 points, or 0.1 percent, to 74,593 while the broader NSE Nifty index was up 30 points, or 0.1 percent, at 22,635.

Kotak Mahindra Bank tumbled nearly 4 percent as K V S Manian, joint managing director at the bank, resigned from his position to pursue other opportunities. Federal Bank surged 4 percent on reports that Manian may join the bank.

Godrej Industries rose over 1 percent and Godrej Consumer Products added 0.7 percent while Godrej Properties lost 2.4 percent after the split of group companies.

Vedanta climbed 1 percent after it announced plans to invest $20 billion in 4 years in India.

TVS Motor gained more than 1 percent on reporting 25 percent growth in monthly sales. Jindal Stainless rose 0.6 percent after unveiling expansion plans.

Adani Ports gave up 1 percent ahead of its earnings release.