Sensex, Nifty Open Higher Led By IT Stocks; RBI MPC Decision Eyed
(RTTNews) - Indian shares opened on a firm note Friday despite muted global cues and huge FII selling amounting to Rs 24,960 crores cumulatively during the last three days.
Investors await the Reserve Bank of India's monetary policy announcement later today, with the apex bank widely expected to hold the repo rate unchanged at 6.5 percent.
The benchmark S&P BSE Sensex was up 354 points, or half a percent, at 75,428 in early trade while the broader NSE Nifty index was up 120 points, or half a percent, at 22,941.
Wipro jumped 4 percent on winning a $500 million contract from a leading U.S. communication service provider.
Peers LTIMindTree, Tech Mahindra and Infosys were up 2-3 percent.
Bajaj Finance advanced 1.6 percent after Bajaj Finance approved plans to raise Rs. 4,000 crores via an initial public offering.
RVNL gained 2 percent on winning a Rs. 495-crore contract from NTPC.
Dixon Technologies climbed 2.9 percent after it signed a term sheet with HKC Corporation to form a joint venture.
Vedanta added 1.8 percent after its demerger plan cleared a major hurdle.
Hero MotoCorp rose about 1 percent on news it would acquire an additional 2.2 percent stake in Ather Energy for Rs. 124 crores.
Tata Chemicals dropped 1.4 percent after its European subsidiary was fined £1.1 million by a U.K. court.
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