Sensex, Nifty Modestly Higher In Early Trade

(RTTNews) - Indian shares opened slightly higher on Thursday despite mixed catalysts.

Global cues remain supportive as signs of falling U.S. inflation fueled bets the Fed will lower interest rates in coming months.

Closer home, industrial output and retail inflation data released after market hours on Wednesday painted a mixed picture of the Indian economy.

The benchmark S&P BSE Sensex was up 303 points, or 0.4 percent, at 76,909 in early trade, while the broader NSE Nifty index was up 63 points, or 0.3 percent, at 23,385.

L&T Finance limbed 3.8 percent on reports that private equity major Bain Capital is likely to sell its entire stake in the company.

Sobha surged 6.5 percent after its board approved a proposal to raise Rs. 2,000 crores via rights issue.

Gensol Engineering jumped 5 percent after it emerged as the successful bidder for Gujarat Urja Vikas Nigam's 250 MW (500 MWh) Battery Energy Storage Project worth Rs. 1,340 crores.

Whirlpool of India rallied 1.6 percent while Hindustan Unilever fell 1.4 percent after they joined hands to market Surf Excel.

Brigade Enterprises rose 0.6 percent after it announced plans to invest Rs. 8,000 crores in Chennai by 2030 to build homes, offices, malls and hotels.

Torrent Pharmaceuticals dropped 1 percent on receiving a Form 483 with five observations from the U.S FDA following an inspection of its manufacturing plant in Gujarat.

Dr Reddy's Laboratories was marginally lower after it signed a licensing agreement with U.S.-based Ingenus Pharmaceuticals to commercialise Cyclophosphamide injection.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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