Sensex, Nifty Open Higher On Strong GDP Data

Indian shares opened a tad higher Friday on the back of strong GDP data for the July-September quarter and signs of revived FPI inflows.

The benchmark S&P BSE Sensex was up 395 points, or 0.6 percent, at 67,375 in early trade, while the broader NSE Nifty index was up 114 points, or 0.6 percent, at 20,247.

Grasim, Axis Bank, IndusInd Bank, Larsen & Toubro and NTPC rose 1-3 percent in the Nifty pack while Bajaj Auto, Wipro and SBI Life dropped around 1 percent each.

Power Grid gained 1 percent after it was declared as successful bidder for two inter-state transmission system projects under BOOT basis.

Biocon added 1.3 percent after its subsidiary Biocon Biologics completed the integration of the Viatris’ biosimilars business in 31 European countries.

Thomas Cook (India) slumped 4.3 percent- The company said promoter Fairbridge Capital (Mauritius) intends to exercise greenshoe option in offer-for-sale that started off on November 30.

Whirlpool of India tumbled 3.3 percent after reports that holding company will offload up to 24 percent of its stake in the company in 2024.

UltraTech Cement edged up slightly on news it will buy the cement business of Kesoram Industries in an all-stock deal valued at Rs 5,379 crore. Shares of the latter jumped 5 percent.

LTIMindtree was marginally higher after it partnered with Metasphere to deliver smart sewers solutions.