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Sensex, Nifty Rise On Powell Comments

Indian shares followed global peers higher on Thursday after Fed Chair Jerome Powell strongly hinted at a potential rate cut later this month, saying the world's largest economy is under threat and the central bank stands ready to "act as appropriate".

The benchmark S&P BSE Sensex was up 83 points or 0.22 percent at 38,640 in early trade, while the broader Nifty index was up 33 points or 0.28 percent at 11,531.

CCL Products rose about 1 percent and Den Networks jumped 6.4 percent ahead of their quarterly earnings results due out today.

Oil marketing companies BPCL, HPCL and IOC held steady despite U.S. oil futures hitting their highest level in over a month.

Greenply Industries rose over 1 percent on demerger news.

interGlobe Aviation tumbled 5 percent. IndiGo co-promoter Rakesh Gangwal wants the company board to be expanded.

DHFL edged down slightly ahead of a meeting of lenders to discuss a resolution plan.

Bharti Airtel and Vodafone Idea eked out modest gains despite Reliance Jio maintaining its lead over rivals in adjusted gross revenue for the March 2019 quarter.

HFCL soared 7 percent after its quarterly net profit jumped over two-fold.

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