Sensex, Nifty Modestly Higher In Cautious Trade

Indian shares opened a tad higher on Thursday after falling sharply in the previous session.

A cautious undertone prevailed ahead of the release of key Eurozone and U.S. inflation readings that could provide additional clues on the rate outlook.

The benchmark S&P BSE Sensex was up 224 points, or 0.3 percent, at 72,529 in early trade while the broader NSE Nifty index was down 47 points, or 0.2 percent, at 21,997.

Reliance Industries climbed 1.3 percent as it announced a merger of its media operations with global media giant Walt Disney to create a powerhouse valued at $8.5 billion.

Shriram Finance added 2 percent and Jio Financial Services jumped 3.1 percent after they have been included in the Nifty 50 index.

Vodafone Idea gained 1.2 percent after falling around 11 percent in the previous session on fund raising reports.

ICICI Securities dropped 1 percent after receiving warning from SEBI for merchant banking activities.

Yes Bank advanced 1.5 percent after announcing it remains open to acquiring a part of Paytm Payments Bank’s UPI-based payments business.

Coal India rose 0.6 percent after it signed a joint venture agreement with BHEL to venture into the coal-to-chemicals industry.

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