Sensex, Nifty Open Higher As Oil Extends Declines
(RTTNews) - Indian shares opened on a positive note Monday amid optimism over potential U.S. rate cuts and a continued decline in oil prices on prospect of higher OPEC+ supply.
The benchmark S&P/BSE Sensex was up 230 points, or 0.3 percent, at 82,595 in early trade while the broader NSE Nifty index was up 58 points, or 0.2 percent, at 25,294.
Tata Consumer Products climbed 1.1 percent after completing the merger of its three wholly owned subsidiaries.
SJVN, NHPC Ltd. and RailTel Corporation of India all rallied around 3 percent after they became the 18th, 19th and 20th company to be granted the "Navratna" status by the Government of India.
Biocon added 1 percent after its subsidiary received FDA approval to market a generic medication to treat chronic heart failure.
Tata Motors fell more than 1 percent as it reported an 8 percent decline in total domestic sales in August.
Maruti Suzuki India gained half a percent despite reporting a 4 percent fall in total sales in August.
Two-wheeler manufacturers Bajaj Auto and Hero MotoCorp were up around 2 percent each. NBCC rose 0.6 percent after it announced a 1:2 bonus issue.
Insecticies India tumbled 4.2 percent after its board approved a proposal to buyback five lakh shares through the tender route.
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