Sensex, Nifty See Modest Gains In Cautious Trade

Indian shares were slightly higher on Friday despite weak cues from global markets.

The benchmark S&P BSE Sensex was up 197 points, or 0.3 percent, at 66,462 in early trade while the broader NSE Nifty index was up 47 points, or 0.2 percent, at 19,774.

Among the top gainers, HCL Technologies, Power Grid Corp, Larsen & Toubro, Bajaj FinServ and NTPC rallied 1-3 percent.

Avenue Supermarts rose 0.7 percent after buying three floors of retail space in a 31-storey residential building in Kandivali West for Rs. 88.74 crore.

ONGC climbed 1.2 percent on news that it would Rs. 15,000 crore in ONGC Petro-additions Ltd (OPaL) as part of a comprehensive financial restructuring effort.

GAIL (India), which currently possesses a 49.21 percent interest in OPaL, was up 0.7 percent.

Kotak Mahindra Bank edged down slightly after the RBI approved the appointment of Dipak Gupta as the interim managing director and chief executive officer of the private sector lender.

Mazagon Dock Shipbuilders soared 11 percent to extend gains from the previous session after it formally inked a Master Ship Repair Agreement (MSRA) with the U.S. government.

Cochin Shipyard surged 7.7 percent and Garden Reach rallied 3.3 percent.

Fermenta Biotech was marginally higher after inaugurating its customised premix manufacturing plant in Kullu, Himachal Pradesh.

Hiitachi Energy advanced 2.4 percent on winning a contract from Ayana Renewable Power.