Sensex, Nifty Modestly Higher In Early Trade

(RTTNews) - Indian shares were slightly higher on Thursday, tracking positive global cues after the U.S. Federal Reserve indicated willingness to slash rates in the coming months.

Investors also held out hopes for positive U.S.-China trade talks in the upcoming G-20 meet.

The benchmark BSE Sensex was up 65 points or 0.17 percent at 39,178 in early trade while the broader Nifty index was up 15 points or 0.13 percent at 11,706.

Power Grid Corp, HDFC, Kotak Bank, Bharti Airtel and Indiabulls Housing Finance climbed 1-3 percent while Zee Entertainment Enterprises, Tech Mahindra, UPL, Britannia Industries and Wipro dropped 2-3 percent.

HDFC rose over 1 percent after it agreed to acquire 51.2 percent stake in Apollo Munich Health Insurance for Rs. 1,347 crore.

Apollo Hospitals, which is selling its entire 10 percent in the health insurance company, rallied 2 percent.

BPCL and IOC were up around 1 percent despite oil prices rising on data showing a larger-than-expected fall in U.S. crude inventories.

Glenmark Pharmaceuticals edged up half a percent after receiving tentative ANDA approval for Clindamycin Phosphate Foam.

IT stocks were moving lower, with TCS and Infosys falling around 1 percent. Wipro shares fell as much as 3.5 percent.
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