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Sensex, Nifty Tad Higher In Early Trade

Indian shares were moving higher in early trade on Wednesday despite mixed global cues.

The benchmark 30-share BSE Sensex inched up 75 points, or 0.2 percent, to 52,351 while the broader NSE Nifty index rose 34 points or 0.2 percent to 15,774.

Coal India, SBI Life, BPCL, ONGC and Cipla rallied 1-2 percent while Maruti Suzuki, Bajaj Auto, UltraTech, Britannia Industries and Shree Cement all fell around 1 percent.

Bata India inched up slightly and Star Cement advanced 1.5 percent ahead of their quarterly earnings due today.

Tata Motors rose half a percent after it incorporated a new subsidiary to provide end-to-end services of operating, repair, annual maintenance contracts (AMC) and fleet management services for its product range.

Adani Enterprise edged down slightly after it incorporated a wholly-owned subsidiary for manufacturing wind turbine generators and other auxiliaries.

ONGC gained 1.7 percent as oil resumed its rally to top $70 a barrel.

DHFL shares slumped 10 percent. 63 Moons Technologies, which holds around Rs 200 crore worth of non-convertible debentures of the company, said it is going to challenge NCLT's approval of the resolution plan.

PNB Housing Finance was down about half a percent. Proxy advisory firm Stakeholders Empowerment Services said that the proposed preferential issue by the company is against the interest of public shareholders, PNB shareholders and the government.

Tata Power Company climbed nearly 2 percent as the fair trade regulator cleared its proposed purchase of 51 percent stake each in three power utilities in Odisha.

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