Sensex, Nifty Open On Firm Note; Sugar Stocks Rally
(RTTNews) - Indian shares opened on a positive note Friday as positive U.S. labor market and GDP data pointed to a soft landing for the world's largest economy.
The benchmark S&P/BSE Sensex was up 258 points, or 0.3 percent, at 82,397 while the broader NSE Nifty index was up 88 points, or 0.4 percent, at 25,239.
Among the top gainers, Bajaj FinServ, Asian Paints, Titan Company, BPCL and Hero MotoCorp climbed 1-2 percent.
Sakthi Sugars, Balrampur Chini, Shree Renuka Sugars, Bajaj Hindusthan and Dwarikesh Sugar Industries soared 6-9 percent after the government permitted sugar mills to use cane juice or syrup to produce ethanol for the Ethanol Supply Year (ESY) 2024-25 beginning November 1, 2024.
Tata Steel gained 0.6 percent after it acquired 13,000 equity shares or 26 percent stake in TP Parivart, Tata Power Renewable Energy, for Rs 1.3 lakh.
Canara Bank added 1 percent after raising Rs. 3,000 crores via Tier-I bonds.
SpiceJet plunged 5.6 percent as the Directorate General of Civil Aviation (DGCA) placed the low-cost carrier under enhanced surveillance in light of the past record and the special audit carryout out in August 2024.
NBCC tumbled 3.5 percent after selling its entire office and commercial inventory at WTC, Nauroji Nagar, New Delhi and Downtown in Sarojini Nagar for Rs 14,800 crore.
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