Indian shares traded slightly higher on Thursday after the S&P 500 set a new record high overnight on bets that a U.S. resilient economy will continue fueling corporate profits.
The benchmark S&P BSE Sensex was up 91 points, or 0.1 percent, at 72,232 in early trade, while the broader NSE Nifty index was up 26 points, or 0.1 percent, at 21,957.
Power Grid Corp topped the gainers list to rise nearly 7 percent while HCL Technologies, SBI, Hindalco and BPCL rose 2-3 percent.
TCS rose 1.2 percent after reports that it has issued a final warning to employees still working from home.
Tata Consumer Products fell 1.5 percent after Q3 profit missed estimates. Peers Nestle India and Britannia Industries both dropped around 1.6 percent.
Hindustan Unilever dropped about half a percent after announcing a top level rejig.
The Reserve Bank of India (RBI) concludes a three-day meeting of the Monetary Policy Committee today, with analysts expecting no change in rates due to inflation nearing the upper tolerance level of 6 percent.
Market Analysis
Sensex, Nifty Marginally Higher Ahead Of RBI Decision; FMCG Stocks Decline
2024-02-08 04:32:32
