Indian Shares Modestly Higher Ahead Of RBI Rate Decision
(RTTNews) - Indian shares were modestly higher in early trade on Friday despite mixed signals from ongoing negotiations between the U.S. and Iran as well as uncertainty over the reopening of the Strait of Hormuz.
The benchmark BSE Sensex was up 191 points, or 0.3 percent, at 74.551 ahead of the Reserve Bank of India's monetary policy review later today, with markets expecting measures to boost inflows and support the local currency.
The broader NSE Nifty index edged up by 50 points, or 0.2 percent, to 23,466. SBI, Titan Company, Adani Ports, Mahindra & Mahindra, Bajaj FinServ and Bajaj Finance were up 1-2 percent.
Vodafone Idea added 1.5 percent after introducing silent mobile verification for its users on WhatsApp, Facebook and Instagram.
Ola Electric Mobility rallied 2.2 percent after raising Rs. 780 crore through a qualified institutional placement.
Aurobindo Pharma advanced 1.8 percent as it received U.S. FDA approval for generic Tofacitinib tablets.
Tata Steel declined 1.5 percent after a fire incident at its Port Talbot factory in south Wales caused substantial damage to the facility.
Inter Globe Aviation dropped nearly 1 percent after suspending flights to six international destinations between July and September.
IIFL Finance fell over 1 percent after raising funds via social bonds from global investors.
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