Indian Shares Modestly Higher As IT Stocks Extend Gains
(RTTNews) - Indian shares opened on a positive note Thursday after U.S. chipmaker Nvidia forecast first-quarter revenue above market estimates, helping ease concerns that momentum in artificial intelligence spending was cooling.
Overall gains, however, remained capped due to lingering trade-deal uncertainties and geopolitical risks.
The benchmark BSE Sensex was up 155 points, or 0.2 percent, at 82,432 in early trade while the broader NSE Nifty index edged up by 59 points, or 0.2 percent, to 25,541.
IT stocks extended gains from the previous session, with TCS, Infosys, HCL Technologies and Tech Mahindra rising 1-2 percent.
According to media reports, Tata Consultancy Services is urging employees to proactively use artificial intelligence tools to deliver work faster and cheaper, even if it eats into the company's revenue.
KSB jumped 6 percent on reporting a double-digit rise in December quarter profit. Lupin rose 1.4 percent after saying it has initiated launch of Brivaracetam Oral Solution 10 mg/mL in the United States.
Dr. Reddy's Labs added 1.3 percent on reports the company plans to launch its generic semaglutide injection in the country in March under the brand name Obeda.
Shaily Engineering Plastics climbed 3 percent after signing a manufacturing and commercial supply agreement with a large domestic pharma company.
Sanofi India tumbled 3.3 percent after declaring its Q4 results.
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