Sensex Up 250 Points In Early Trade; Nifty Climbs Above 11,200
Indian shares opened higher on Wednesday, tracking overnight gains in the U.S. and European markets after Fed Chair Jerome Powell said the U.S. central bank is committed to helping the economy.
The benchmark S&P BSE Sensex jumped 250 points, or 0.67 percent, to 37,985 in early trade, while the broader NSE Nifty index was up 72 points, or 0.65 percent, at 11,226.
Reliance Industries rallied more than 2 percent after it sold 1.28 percent stake in Reliance Retail to global investment firm KKR.
Separately, the Bloomberg reported that the company is in talks with domestic assemblers to make a version of its Jio Phone that would run on Android.
NTPC fell over 1 percent after it sought interest from energy-intensive industries for setting up manufacturing facilities within power plant premises.
Dewan Housing Finance Corp advanced 1.6 percent even as SEBI barred its promoters from the securities market.
Hindustan Construction surged nearly 7 percent after it completed the sale of its Farakka Raiganj Highway project to Cube Highways at an enterprise value of Rs 1508 crore.
Sun Pharma gained 0.8 percent after its wholly-owned subsidiary launched ILUMYA (tildrakizumab) in Japan for the treatment of plaque psoriasis in adult patients.
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