Indian Shares Open Higher As IT Stocks Surge
(RTTNews) - Indian shares opened higher on Thursday despite weak cues from global markets.
A continued fall in crude oil prices helped underpin sentiment after Qatar said that indirect U.S.-Iran talks have made "positive progress" and that the next round of talks will be held at the earlier possible time following the funeral procession of Iran's former Supreme Leader Ali Khamenei.
The benchmark BSE Sensex jumped 400 points, or half a percent, to 77,322 in early trade, while the broader NSE Nifty index was up 117 points, or half a percent, at 24,121.
IT stocks rebounded from recent string of losses, with Tech Mahindra, TCS, HCL Technologies and Infosys climbing 3-5 percent amid a weakening AI trade in other Asian countries like South Korea and Japan.
BPCL rallied 2.6 percent after it signed a pact to acquire the entire stake held by Videocon Energy Brazil in IBV Brazil Petroleo Limitada.
Peers HPCL and IOC were up 2-3 percent as Brent crude prices slid to nearly $70 a barrel for the first time since the days leading up to the start of the U.S.-Iran war.
Tata Technologies surged nearly 4 percent after expanding its global partnership with Tenneco LLC to accelerate mobility transformation initiatives.
Iron ore miner NMDC added 2 percent after posting its highest-ever Q1 volumes.
Bharti Airtel fell about 1 percent as its NBFC arm, Airtel Money, commenced commercial operations after receiving RBI approval.
Indian Bank was down 1 percent after releasing its business update for the June quarter.
European Shares Set For Lackluster Open; US CPI Data Eyed
Indian Shares Tumble Amid Geopolitical Concerns
Australian Market Extends Early Strong Losses In Mid-market
Asian Markets Sink Amid Inflationary Risks
Indian Shares Set For Weak Opening As Oil Extends Surge On Mideast Tensions
Losing Streak May Continue For Thai Stock Market
Japanese Market Sharply Lower
