Sensex Rises 270 Points; Nifty Tops 16,000
(RTTNews) - Indian shares opened higher on Thursday despite weak cues from global markets amid growing inflation and recession fears.
The benchmark S&P BSE Sensex jumped 270 points, or half a percent, to 53,772 while the broader NSE Nifty index was up 73 points, or half a percent, at 16,040.
Among the top gainers, Mahindra & Mahindra, Sun Pharma, Britannia Industries, Tata Consumer Products and Apollo Hospitals Enterprise rose 1-2 percent.
PSU banks traded mostly lower on reports that the government is aiming at commencing the next round of public sector bank mergers with the hope of having 4-5 large banks.
Mindtree lost nearly 4 percent despite reporting a 37 percent rise in Q1 net profit. Infosys was little changed on news it is buying Denmark-based consultancy firm BASE life science for 110 million euros.
HDFC rose about 1 percent on fund raising reports.
Dabur gained 1 percent after it acquired the entire stake in Bangladesh-based Asian Consumer Care from its joint venture partner Advanced Chemical Industries for about Rs 51 crore.
JSW Energy rallied 2 percent. Its subsidiary JSW Neo Energy has bagged a 300 MW wind energy project from Solar Energy Corporation of India.
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