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Sensex, Nifty Tad Higher In Early Trade

Indian shares opened a tad higher on Wednesday despite weak global cues.

The benchmark 30-share BSE Sensex edged up 115 points, or 0.2 percent, to 58,362 in early trade, while the broader NSE Nifty index was up 38 points, or 0.2 percent, at 17,417.

Markets elsewhere across Asia were moving lower as weak Chinese data reinforced worries about slowing growth globally.

Zee Entertainment Enterprises jumped 10 percent. Ace investor Rakesh Jhunjhunwala through investment arm Rare Enterprises bought 50 lakh shares in the company.

Shree Cement rose 1.3 percent after its board approved setting up of an integrated cement plant in Rajasthan and solar power plants at various locations.

Bharti Airtel advanced 1.4 percent. The Union Cabinet is likely to announce some immediate relief for the financially ailing sector later today.

Reliance Infrastructure jumped 5 percent. The company will receive ?7,100 cr from the Delhi Metro Rail Corporation, which will be used to repay debt and to make the company debt-free.

Maruti Suzuki and Tata Motors were modestly higher. The Union Cabinet is likely to approve a revised production-linked incentive (PLI) scheme for the automobile sector today.

Tata Steel rose about half a percent after Moody's Investors Service upgraded the corporate family rating of the company to Ba1 from Ba2.

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