Sensex, Nifty Open On Strong Note Amid Firm Global Cues

Indian shares opened on a buoyant note Friday, tracking positive cues from global markets.

The benchmark S&P/BSE Sensex was up 590 points, or 0.8 percent, at 71,779 in early trade while the broader NSE Nifty index slipped 176 points, or 0.8 percent, to 21,638.

The dollar headed for a second weekly gain as traders paced back their expectations for early rate cuts.

Tata Steel jumped 1 percent on reports it is seeking to shut down its Port Talbot blast furnaces in the U.K.

Coal India rose over 2 percent after reports that it is mulling the mining of critical minerals, including lithium.

Hindustan Unilever rose about half a percent, Paytm rallied 2.2 percent and ICICI Bank climbed 1.5 percent ahead of their earnings results. Heavyweight Reliance Industries was marginally lower before its earnings release.

Tata Communications added half a percent after reporting its fastest quarterly revenue growth in nearly nine years.

Ashok Leyland was up about 1 percent on securing a major order for 1,225 buses from Karnataka.

HDFC Bank gained 0.7 percent after recent heavy losses.
IndusInd Bank fell 1.7 percent despite reporting 17 percent growth in Q3 profit.

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