Indian shares open higher as IT, energy firms gain

FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 6, 2020. REUTERS/Francis Mascarenhas/File photo

BENGALURU (Reuters) – Indian shares rose on Thursday, with information technology and energy companies gaining the most, as investors awaited U.S. inflation data and the outcome of a European Central Bank meeting later in the day.

The blue-chip NSE Nifty 50 index was up 0.35% at 15,681.80 and the benchmark S&P BSE Sensex rose 0.30% to 52,103.55 by 0346 GMT. Both the indexes closed more than 0.63% lower on Wednesday.

Reliance Industries Ltd, Infosys Ltd and Tata Consultancy Services Ltd were among the top boosts to the Nifty 50, gaining between 0.7% and 0.8%. Shares of Reliance have risen in five of the last eight trading sessions.

The Nifty IT index, which has gained 2% so far this week, was up 0.89%.

Market focus was on U.S. consumer price data that could offer clues on when the Federal Reserve might tighten its dovish monetary policy, which could ultimately impact the flow of foreign funds into emerging markets such as India.

Meanwhile, data from the health ministry on Thursday showed the country had 94,052 new coronavirus infections in the last 24 hours, below 100,000 cases for the third straight day. However, deaths rose by a record 6,148, the biggest single-day jump in the world.

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