Sensex, Nifty Open Higher On Hopes For Fed Rate Cuts
(RTTNews) - Indian shares opened on a positive note Friday as soft labor market data from the U.S. added to expectations for rate cuts by the Federal Reserve in the coming months.
The benchmark S&P BSE Sensex was up 250 points, or 0.4 percent, at 72,655 in early trade while the broader NSE Nifty index was up 68 points, or 0.3 percent, at 22,025.
BPCL rallied 3.2 percent after its board approved a 1:1 bonus issue.
Asian Paints added 1.2 percent after posting modest growth in Q4 net profit.
Jupiter Wagons jumped 3.5 percent on robust Q4 results.
Cipla, Eicher Motors and Tata Motors were seeing modest gains ahead of their earnings results due today.
Indian Overseas Bank edged up slightly after reporting its highest-ever quarterly profit.
PNB rose about half a percent after quarterly profit surged 160 percent year-on-year.
Canadian Stocks Modestly Higher In Cautious Trade
Swiss Market Ends Modestly Higher
European Stocks Close Higher On Rate Cut Hopes
Pound Strengthens As BoE Rate Cut Expectations Recede
Bay Street Likely To Open Higher As Commodities Advance
German Ifo Business Sentiment Steadies In May
Sensex, Nifty End On Flat Note After Hitting Fresh Peaks
