Indian shares inch higher led by financials; Reliance caps gains

Data Patterns (India)

04/12/2024 08:04

** India's benchmark indexes NSE Nifty 50  .NSEI  and BSE
Sensex  .BSESN  rise about 0.15% each  
    ** Financials  .NIFTYFIN  climb 1% on improving prospects of
the RBI easing rates, leading benchmarks higher 
    ** Citi expects a likely RBI cut in cash reserve ratio on
Friday's policy meeting to aid banks' margins 
    ** Both Nifty and Sensex rise about 0.5% each in the first
hour of trade, before trimming gains
    ** A 1% drop in Reliance Industries  RELI.NS  after a
three-session rally caps gains for benchmarks, leads energy
index  .NIFTYENR  0.7% lower        
    ** Smallcaps  .NIFSMCP100  and midcaps  .NIFMDCP100  gain
about 0.7% each
    ** Defence companies rise after government approves
proposals worth $2.6 billion to enhance operational capabilities
of the armed forces
    ** Data Patterns  DATP.NS  and Bharat Dynamics  BARA.NS 
gain about 5.5% each, Bharat Electronics  BAJE.NS  and Paras
Defence  PRAF.NS  up 0.6% and 3.1%, respectively 
    ** Newly-listed Swiggy  SWIG.NS  gains 3% after three
brokerages remained positive on the online food delivery
platform's future earnings outlook

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))