Sensex, Nifty Open Higher In Cautious Trade

(RTTNews) - Indian shares opened slightly higher on Friday, with positive U.S.-China trade developments and encouraging macro data offering some support.

India's industrial output data for July beat forecasts while another report showed consumer inflation remained broadly unchanged in August.

The benchmark S&P BSE Sensex was up 71 points or 0.19 percent at 37,175 while the broader NSE Nifty index was up 23 points or 0.21 percent at 11,005.

Mahindra & Mahindra gained 0.6 percent after it rolled out subscription-based car-ownership model.

Maruti Suzuki and Tata Motors rose over 1 percent after losses in the previous session on speculation the government is unlikely to offer GST concessions to auto companies.

Hindustan Unilever edged up half a percent on reports it has emerged as the front-runner to acquire Nagpur-based Dinshaw's Dairy Foods.

BPCL, HPCL and IOC were moving higher as oil extended recent losses.

SBI slid half a percent after it launched a two-day offer for sale (OFS) to sell a 4.5 percent stake in SBI Life Insurance.

Apollo Hospitals Enterprise lost 1 percent after its managing director, Suneeta Reddy, sold a 3.6 percent stake in the company.

Sun Pharmaceutical Industries was marginally higher after one of the promoters of the company further revoked its pledged shares.

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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