Indian shares were slightly higher in early trade on Thursday, tracking firm global cues and amid the weekly options expiry of the Nifty 50 contracts.
The benchmark S&P/BSE Sensex was up 11 points at 79,944, giving up some of its early gains. The broader NSE Nifty index was up 13 points at 24,337.
HCL Technologies, Tata Steel, BPCL, Coal India and Tata Motors climbed 1-2 percent while Sun Pharma and HDFC Bank fell around 1 percent each.
TCS rose 1.1 percent as it kickstarts the earnings season for the Nifty 50 companies.
YES Bank soared 7 percent as Moody’s upgraded its outlook to positive and affirmed ratings. Also, media reports suggest that First Abu Dhabi Bank is considering a bid for a stake in the private sector bank.
Religare Enterprises rallied 2.1 percent. The Securities Appellate Tribunal has stayed the show cause notice issued to the company and its directors by the market regulator SEBI on June 19 in Burman Family’s open offer matter.
Nykaa rose 2 percent after Canada Pension Plan Investment Board offloaded more than 1.47 crore shares of the company via a block deal.
Tata Elxsi fell nearly 2 percent on reporting a 3 percent year-on-year fall in Q1 net profit.
Glenmark Life declined 1.7 percent as Glenmark Pharmaceuticals said it would exit the company with the sale of its 7.84 percent stake through an offer for sale (OFS).
Siemens was moving lower despite bagging an order from Bangalore Metro Rail Corporation Limited for electrification of Bengaluru Metro Phase 2 project.
Vedanta dropped half a percent after announcing the demerger of its conglomerate into sex separate entities.
Power Grid Corp shed 0.6 percent after its board approved a plan to raise borrowing limit to Rs. 15,000 crores for 2024-25.
Market Analysis
Sensex, Nifty Marginally Higher In Early Trade
2024-07-11 04:22:46
