Sensex, Nifty Edge Higher; ONGC Declines As Crude Prices Tumble

Indian shares were seeing modest gains on Friday despite mixed cues from global markets as U.S. debt ceiling negotiations dragged on.

The benchmark S&P BSE Sensex was up 223 points, or 0.4 percent, at 62,096 while the broader NSE Nifty index was up 61 points, or 0.3 percent, at 18,382.

Reliance Industries climbed 2 percent after completing the acquisition of Lotus Chocolate.

Zee Entertainment Enterprises jumped 3 percent. The company posted consolidated net loss of Rs 196 crore for the quarter ended March 31 as against Rs 182-crore profit a year ago.

Vodafone Idea gained about 1 percent after narrowing its Q4 net loss and reporting its first annual revenue growth since merger of Vodafone and Idea Cellular in 2018.

Adani Enterprises, Tata Consumer Products, Divis Laboratories and Wipro all rose over 1 percent while ONGC fell about 2 percent after oil prices saw their biggest decline since early May overnight.

Grasim and Power Grid Corp were down around 1 percent each.

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