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Sensex, Nifty Follow Global Peers Higher

Indian shares followed global peers higher on Thursday, bond yields eased, and the dollar pulled back after the Bank of England (BoE) said it would buy long-dated government bonds on "whatever scale is necessary" to address dysfunction in the gilt market.

The benchmark S&P BSE Sensex rose 430 points, or 0.8 percent, to 57,027 in early trade, snapping a six-day losing streak. The broader NSE Nifty index was up 115 points, or 0.7 percent, at 16,974.

Among the top gainers, Tata Motors, ONGC, Tata Steel, IndusInd Bank and Hindalco jumped 2-4 percent.

Tata Motors rallied 2.5 percent after launching India's lowest priced electric car at a little over $10,000.

Reliance Industries gained 1.3 percent as its retail arm launched a new fashion and lifestyle departmental store format, Reliance Centro.

Nykaa jumped 3.6 percent after it proposed to issue bonus issues.

Blue Dart Express added 1.6 percent as the company announced average shipment price increase of 9.6 percent for 2023 as compared to last year.

BHEL rose nearly 2 percent on securing an order from NTPC for Odisha thermal power project.

Ramco Cements edged up slightly. The company has commissioned its fifth integrated cement plant in Andhra Pradesh.

Torrent Pharmaceuticals climbed 2.5 percent. The U.S. FDA has issued a Form 483 with three observations after an inspection of its Indrad, Gujarat-based manufacturing plant.

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