Sensex Up Over 500 Points; Nifty Nears 15,150

(RTTNews) - Indian shares opened higher on Thursday, tracking positive cues from global markets after Federal Reserve Chair Jerome Powell's comments calmed inflation worries.

Also helping boost sentiment, the government on Wednesday approved a Rs 7,350 crore production-linked incentive scheme for laptops, tablets, PCs and servers in the country with an aim to promote India as a global hub for hardware manufacturing.

The benchmark S&P BSE Sensex jumped 510 points, or 1 percent, to 51.290 in early trade after rallying about 2 percent on Wednesday in an unprecedented extended session. The broader NSE Nifty index was up 154 points, or 1 percent, at 15,136.

ONGC, UPL, IndusInd Bank and Hindalco gained 3-4 percent, while Britannia, Hero MotoCorp, Titan and Nestle India all fell around 1 percent.

Axis Bank rallied 3.2 percent as the IRDA gave its formal approval for the acquisition of up to 12 percent stake in Max Life Insurance by the private sector lender and its subsidiaries.
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