Sensex, Nifty Modestly Higher In Early Trade
(RTTNews) - Indian shares opened on a firm note Wednesday after official data showed India's consumer price inflation eased more-than-expected in July to the lowest level in just over eight years, bringing inflation below RBI's tolerance band and raising prospects of another interest rate cut.
The benchmark BSE Sensex was up 292 points, or 0.4 percent, at 80,528 while the broader NSE Nifty index edged up by 114 points, or half a percent, to 24,601.
NMDC added 1.5 percent after reporting record Q1 iron ore production.
Jindal Steel gained 1.6 percent on reporting a 12 percent rise in Q1 net profit.
Hindustan Aeronautics climbed 2.4 percent as Q1 profit beat estimates.
Motilal Oswal Financial Services rallied 2.2 percent after investing Rs. 400 crore in Zepto (formerly Kiranakart Technologies).
Nazara Technologies advanced 1.6 percent on robust Q1 results.
Honasa Consumer soared 13 percent on getting an upgrade from CLSA post its Q1 results.
NSDL tumbled 3.3 percent after Q1 revenue from operations fell 8 percent year-on-year.
Suzlon Energy fell 3.4 percent on posting weaker-than-expected quarterly results due to higher tax expenses and finance costs.
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