Indian shares snapped three consecutive sessions of losses to open higher on Friday, with investors focused on a slew of earnings results, including energy-to-telecom giant Reliance Industries which is slated to be out later in the day.

The blue-chip NSE Nifty 50 index was up 0.37% at 18,246.10 by 9:15 am, and the benchmark S&P BSE Sensex rose 0.38% to 61,154.29.

The two indexes, however, were on track to post their first weekly loss in three, as the market traded at high valuations and on worries over rising commodity inflation.

Public sector bank shares drove early gains on the Nifty 50, with Indian Bank rising 2% to lead gains in the sector.

Energy shares also rose, with Oil and Natural Gas Corp advancing 1.5% to be among the top gainers on the Nifty 50.

Shares in broader Asia advanced, boosted by gains among tech stocks and as debt-laden China Evergrande made an interest payment to keep from falling into formal default.


India today

Leave a Reply

Your email address will not be published. Required fields are marked *