Sensex, Nifty Climb As Oil Extends Declines On Recession Worries
(RTTNews) - Indian shares opened on a positive note Thursday, as lower commodity prices, particularly of crude oil, helped reduce risks of imported inflation.
The benchmark S&P BSE Sensex rose 280 points, or half a percent, to 54,030 in early trade, while the broader NSE Nifty index was up 90 points, or 0.6 percent, at 16,079.
Titan Company jumped 5 percent after its first-quarter sales jumped by 205 percent year-on-year.
Power Grid Corp, Asian Paints, NTPC and BPCL climbed 2-3 percent.
Punjab National Bank added 1.3 percent after raising Rs.2,000 crore via a bonds issue.
SpiceJet rose about 1 percent. The airline has received notice from the government for failing to establish safe, efficient and reliable air services.
Reliance Industries dropped 1 percent. Its arm Reliance Retail announced a long-term partnership with Gap to bring back the iconic American fashion brand to India.
Bharti Airtel edged down slightly after launching four new prepaid plans.
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