Sensex, Nifty Follow Global Peers Higher As Recession Fears Ease

Indian shares opened higher on Thursday to extend gains for the seventh day running, as geopolitical tensions ebbed and encouraging U.S. economic data helped ease concerns about a recession.

The benchmark S&P BSE Sensex climbed 270 points, or half a percent, to 58,618 in early trade while the broader NSE Nifty index was up 67 points, or 0.4 percent, at 17,455.

Metal stocks surged, with Hindalco rallying nearly 4 percent.

Tech stocks were seeing broad-based gains, with TCS, Tech Mahindra, Wipro and Infosys rising 1-2 percent.

Adani Power gained 1 percent after announcing healthy Q1 results.

Vodafone Idea tumbled 3.2 percent as it reported a wider quarterly net loss on a sequential basis.

Adani Wilmar fell 2.4 percent despite reporting a 10 percent rise in Q1 profit.

Inox Leisure rose over 1 percent after delivering its highest ever quarterly revenues.

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