Indian stock markets started slightly higher on Thursday, after a steep fall in the previous session. The approach was cautious, with investors waiting for key inflation data from the Eurozone and the U.S., which is likely to give further insight on future interest rates.
In early trading, the S&P BSE Sensex benchmark moved up 224 points or 0.3 percent to reach 72,529, while the broader NSE Nifty index slipped 47 points, or 0.2 percent, to stand at 21,997.
Shares in Reliance Industries rose by 1.3 percent as the company announced a merger of its media operations with Walt Disney, creating a new entity valued at $8.5 billion. Shriram Finance saw a 2 percent increase, while Jio Financial Services jumped by 3.1 percent after both companies made it to the Nifty 50 index.
Telecommunications company, Vodafone Idea added 1.2 percent following an 11 percent fall in the previous session on reports of fundraising efforts. ICICI Securities fell by 1 percent after a warning from the Securities and Exchange Board of India (SEBI) regarding its merchant banking activities.
Yes Bank's shares moved up by 1.5 percent as the bank announced it was open to purchasing a part of Paytm Payments Bank's UPI-based payments business. Coal India’s shares saw an increase of 0.6 percent after signing a joint venture deal with Bharat Heavy Electricals Limited (BHEL) to explore the coal-to-chemicals industry.
