Sensex, Nifty Open Higher As US Recession Worries Ease
(RTTNews) - Indian shares opened on a positive note Wednesday, tracking firm cues from global markets as upbeat U.S. economic data helped ease investor concerns about an impending recession.
The benchmark S&P BSE Sensex was up 193 points, or 0.3 percent, at 63,609 in early trade, while the broader NSE Nifty index was up 61 points, or 0.3 percent, at 18,878. HDFC was marginally lower while HDFC Bank rose half a percent. According to media reports, the merger between HDFC twins is expected to be completed by July 1.
State Bank of India gained about 1 percent on news it would acquire the entire 20 percent stake held by SBI Capital Markets in SBI Pension Funds.
HDFC Life declined 1.3 percent, a day after HDFC purchased 1.5 crore shares of the company for Rs. 992.6 crore through a bulk deal on the NSE.
Titagarh Rail Systems rallied 2 percent on bagging an order worth about Rs. 857 crore from the Gujarat Metro Rail Corporation.
Lupin added 1 percent on reports that it may spin off its API business.
IDFC First Bank dropped half a percent after raising Rs. 1,500 crore from tier-2 bonds.
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