Sensex, Nifty Open Higher As Yields Dip On Weak US Data

Indian shares opened on a positive note Friday as weak U.S. retail sales data sent Treasury yields down and added to bets that the Federal Reserve will cut interest rates in coming months.

The benchmark S&P BSE Sensex was up 226 points, or 0.3 percent, at 72,276 while the broader NSE Nifty index was up 80 points, or 0.4 percent, at 21,990.

Among the prominent gainers, Larsen & Toubro, Mahindra & Mahindra, Tata Motors, Bajaj Auto and BPCL were up 2-3 percent.

Vedanta edged up slightly. Promoter entity Finsider International Company has offloaded shares worth Rs. 1,737 crores in the company via open market transactions.

Reliance Industries was marginally higher on reports that it is in talks to buy a 29.8 percent stake in subscription-based satellite TV and video streaming service provider Tata Play from Walt Disney.

Yes Bank added 1.5 percent after Carlyle Group offloaded 1.3 percent stake in the private sector lender for Rs 1,057 crore.

KPI Green Energy jumped 5 percent on bagging a 1.5 MW solar power project.

Medplus Health Services rallied 3 percent. The company said there was no major financial impact from the suspension order of drug license for 15 days from the FDA for its store at Khopat, Thane.

Sudarshan Chemical Industries climbed 2.8 percent after HDFC Mutual Fund bought 17,75,551 equity shares of the company at an average price of Rs 513.99 per share.

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