Indian Shares Climb Amid Easing Oil Prices
(RTTNews) - Indian shares opened on a buoyant note on Wednesday after Brent crude prices hit close to ten-week lows overnight on signs of easing tensions between the U.S. and Iran, and reports suggesting that Middle Eastern oil shipments have nearly returned to prewar levels despite ongoing attacks on vessels in the Strait of Hormuz.
Following talks with Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassi Al Thani, U.S. President Donald Trump stated that the U.S. war with Iran is "militarily effectively over" and that further strikes are currently unnecessary.
The 30-share BSE Sensex was up 1,150 points, or 1.4 percent, at 82,235 as traders returned to their desks after a holiday on Tuesday for Diwali Balipratipada. The NSE Nifty index soared 295 points, or 1.2 percent, to 25,338.
Shares of Tata Power, Cupid and Hindustan Copper were up 1-2 percent ahead of their quarterly earnings results due today.
Bharti Airtel, Axis Bank, Eternal, SBI, Asian Paints, Trent, Mahindra & Mahindra and Indigo surged 2-5 percent.
Kalyan Jewelers soared nearly 12 percent after Q2 profit jumped 4 percent from last year.
IIFL Finance surged 9 percent after Blackstone, the world's largest alternative asset manager, said it would acquire a 16 percent stake in the company for $535 million.
Bank of Baroda rallied 3.4 percent after increasing its Marginal Cost of Funds-Based Lending Rates (MCLR) across four tenures.
Bajaj Finance rose over 1 percent after allotting 5.74 crore warrants to promoter Bajaj Finserv on a preferential basis.
Cochin Shipyard plunged more than 6 percent after reporting a 50 percent year-on-year fall in its September quarter consolidated profit.
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Australian Market Swings To Modest Gains In Mid-market
Asian Markets Trade Mixed
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Thai Stock Market May Open In The Red On Wednesday
