Sensex, Nifty Gain As Bond Yields Ease

Indian shares opened on a buoyant note Tuesday as easing bond yields and falling oil prices fueled hopes of lower inflation and interest rate cuts.

The benchmark S&P BSE Sensex was up 455 points, or 0.6 percent, at 71,809 in early trade while the broader NSE Nifty index was up 147 points, or 0.7 percent, at 21,660.

IT stocks such as LTIMindTree and Wipro were up around 2 percent each.

Bajaj Auto rallied 2.4 percent after its board approved a Rs 4,000-crore share buyback via a tender offer.

Adani Enterprises, Adani Ports and Adani Green were up 1-2 percent.

The Group has signed a Memorandum of Understanding for investing over Rs 42,700 crore in various projects in Tamil Nadu.

Zee Entertainment Enterprises plunged 11 percent after reports that Sony Group may call off the $10 billion merger pact with the company.

BEML gained 0.8 percent on securing an order worth Rs 329.87 crore from the Defence Ministry.

Tata Motors rose over 1 percent after its JLR unit reported a 27 percent rise in total wholesales in the third quarter ended December.

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