Indian shares opened higher on Wednesday after data showed a slightly uptick in the country’s industrial output in February.
Investors shrugged off another report showing that India’s retail inflation shot up to 6.95 percent in March 2022, the highest since October 2020.
On the global front, core U.S. inflation data rose less than expected, helping ease concerns around inflation and interest-rate hikes by the Federal Reserve.
The benchmark S&P BSE Sensex rose 245 points, or 0.4 percent, to 58,823 in early trade, while the broader NSE Nifty index was up 89 points, or half a percent, at 17,619.
ONGC jumped more than 3 percent and Reliance Industries added around 1 percent as oil prices soared on supply concerns.
Bharti Airtel, Apollo Hospital, JSW Steel and UPL were up 2-3 percent.
Anand Rathi Wealth surged nearly 15 percent after posting an over three-fold jump in its quarterly net profit.
Infosys edged down slightly ahead of its earnings release.
Market Analysis
Sensex, Nifty Rise Despite Inflation Uncertainty
2022-04-13 04:34:32
