Indian shares opened higher on Thursday, as bond yields dipped, and the dollar extended losses after the release of weak U.S. private payrolls and service sector activity data.
Oil prices also came off from recent highs, helping ease concerns around inflation and further interest rate rises.
The benchmark S&P BSE Sensex jumped 354 points, or half a percent, to 65,580 in early trade, while the broader NSE Nifty index was up 100 points, or half a percent, at 19,535.
IT stocks traded broadly higher, with Infosys, Tech Mahindra and TCS all rising over 1 percent.
Hero MotoCorp rose about 1 percent on news that it has received 13,688 bookings for its newly launched Karizma XMR.
Hindustan Aeronautics rallied 2.4 percent after delivering the first LCA Tejas twin-seater aircraft to the Indian Air Force.
Exide Industries gained 1 percent after it announced plans to invest Rs 340 crore in its subsidiary Exide Energy Solutions.
Marico tumbled 3.8 percent after it reported low single-digit growth in domestic volumes in Q2.
Punjab National Bank fell 1.7 percent despite reporting robust growth in advances for Q2.
NTPC was little changed. The company has invited bids to set up 1500 MW of interstate transmission system (ISTS)-connected wind-solar hybrid power projects across India.
Market Analysis
Sensex, Nifty Gain As Yields And Oil Dip On Weak US Data
2023-10-05 04:37:36
