Indian shares opened a tad higher on Friday, tracking firm global cues after producer inflation data showed the smallest annual increase in prices in nearly three years, adding to bets the Fed could soon end its monetary tightening campaign.
The benchmark S&P BSE Sensex was up 147 points, or 0.2 percent, at 65,706 in early trade while the broader NSE Nifty index was up 47 points, or 0.2 percent, at 19,460.
IT stocks topped the gainers list, with Tech Mahindra, Infosys and HCL Technologies rising 1-2 percent.
Wipro edged up slightly after reporting a 12 percent rise in quarterly profit.
Federal Bank gained 0.8 percent on reporting a 40 percent rise in Q1 profit.
Patanjali Foods jumped 5 percent. Patanjali Ayurved’s offer to sell shares of the company received a good response from non-retail investors.
Rail Vikas Nigam added 1.6 percent on receiving a NHAI contract worth Rs 808.5 crore.
Bandhan Bank climbed 1.5 percent ahead of its earnings release.
Market Analysis
Sensex, Nifty Open Higher On Fed Bets
2023-07-14 04:36:41
