The equity benchmark indices Sensex and Nifty opened in the green, after closing lower yesterday. Sensex opened at 31,887 and soon surged more than 60 points, buoyed by the shares of Sun Pharma, TCS and Reliance which surged more than 1% each. Notably, the shares of TCS gained as the Indian IT bellwether is scheduled to announce its much awaited quarterly earnings today. Asian Paints, ICICI banks and Coal India were top losers, shedding more than 0.8% each.
The Nifty opened above the 5 digit figure of 10,000 points, helped by stocks of IOC and IndusInd which rose by more than 0.7% each in the morning trade. Coal India, Hindustan Petroleum, and Kotak Mahindra bank lost more than 0.6% each in the opening trade on Thursday morning.
Bharti Airtel, which was the the biggest gainer on Sensex yesterday, on news reports that the Bharti Group company Bharti Infratel is in talks to acquire $11 billion Indus Towers with a consortium led by KKR & Co, continued to extend gains, surging more than 3% on opening.
According to media reports, the consortium comprising KKR, Canada Pension Plan Investment Board, Abu Dhabi Investment Authority and GIC Singapore will invest $5 billion in a multi-phase acquisition, in which Bharti Infratel, first, will acquire nearly 58% shares of Vodafone, Idea Cellular and Providence Equity Partners in Indus Towers.
Meanwhile, the Dow Jones Industrial Average rose 29.97 points, or 0.13 per cent, to 22,860.65, the S&P 500 gained 3.11 points, or 0.12 percent, to 2,553.75 and the Nasdaq Composite added 13.77 points, or 0.21 per cent, to 6,601.03. US stocks reacted mutedly to the minutes of the most recent Federal Reserve policy meeting, according to a Reuters report.