Indian Shares Edge Up In Cautious Trade; IT Stocks Buck Trend

(RTTNews) - Indian shares were modestly higher in early trade on Friday as oil prices and bond yields retreated amid optimism surrounding Saudi Arabia's efforts to reroute crude exports through Oman and restore the East-West pipeline. The Federal Reserve's first interest-rate hike in three years also instilled confidence in investors regarding the central bank's resolve to bring inflation under control. Among the top gainers, Bharti Airtel, Larsen & Toubro, HDFC Bank, Eternal, UltraTech Cement and Indigo all rose over 1 percent. GPT Infraprojects soared 5 percent on bagging a contract worth Rs. 484 crore from Rail Vikas Nigam. Time Technoplast advanced 1.6 percent after commissioning its automated packaging plant in Gujarat. Tata group stocks were broadly lower, with TCS tumbling more than 3 percent amid a fresh tussle between Tata Sons and Trusts following the reappointment of N Chandrasekaran as executive chairman for another five years. Peers HCL Technologies, Infosys and Tech Mahindra fell 1-2 percent as global chip stocks rebounded from recent selling following reports that SK Hynix and Intel are in early talks to produce memory chips together at Intel's idle Ohio complex in the United States.

(RTTNews) - Indian shares were modestly higher in early trade on Friday as oil prices and bond yields retreated amid optimism surrounding Saudi Arabia's efforts to reroute crude exports through Oman and restore the East-West pipeline.

The Federal Reserve's first interest-rate hike in three years also instilled confidence in investors regarding the central bank's resolve to bring inflation under control.

Among the top gainers, Bharti Airtel, Larsen & Toubro, HDFC Bank, Eternal, UltraTech Cement and Indigo all rose over 1 percent.

GPT Infraprojects soared 5 percent on bagging a contract worth Rs. 484 crore from Rail Vikas Nigam.

Time Technoplast advanced 1.6 percent after commissioning its automated packaging plant in Gujarat.

Tata group stocks were broadly lower, with TCS tumbling more than 3 percent amid a fresh tussle between Tata Sons and Trusts following the reappointment of N Chandrasekaran as executive chairman for another five years.

Peers HCL Technologies, Infosys and Tech Mahindra fell 1-2 percent as global chip stocks rebounded from recent selling following reports that SK Hynix and Intel are in early talks to produce memory chips together at Intel's idle Ohio complex in the United States.