Indian shares rise on energy gains; inflation data in focus

FILE PHOTO: People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020. REUTERS/Francis Mascarenhas

BENGALURU (Reuters) – Indian shares opened slightly higher on Thursday, driven by energy shares, with investors eyeing domestic retail inflation data for July due later in the day.

By 0356 GMT, the blue-chip NSE Nifty 50 index was up 0.1% at 16,299 and the benchmark S&P BSE Sensex rose 0.21% to 54,641.22

The Nifty energy index gained 0.6%, with Power Grid Corp and Tata Power Ltd adding 2.8% and 1.3%, respectively.

Nifty 50 components Bharat Petroleum Corp Ltd, Hero MotoCorp Ltd, Tata Steel Ltd and Eicher Motors Ltd will report results later in the day.

India’s consumer price inflation data for July, due at 1200 GMT on Thursday, likely slowed to a three-month low on falling food prices and an easing of supply chain disruptions, a Reuters poll found.

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