Indian shares inch higher, led by auto and energy stocks

Indraprastha Gas

24/12/2024 07:30

** India's benchmark indexes NSE Nifty 50  .NSEI  and BSE
Sensex  .BSESN  rise ~0.2% each
    ** Nine of 13 major sectors advance; auto  .NIFTYAUTO  gains
~0.8%, set to snap six-session losing streak
    ** Tata Motors  TAMO.NS  advances 2% to top Nifty 50 gainers
    ** Oil and gas index  .NIFOILGAS  adds 0.9%; city gas
distributors Mahanagar Gas  MGAS.NS  and Indraprastha Gas
 IGAS.MS  rise ~3% on reports that oil ministry has re-submitted
a proposal to halve excise duty on CNG to 7%
    ** Broader, more domestically-focussed smallcaps
 .NIFSMCP100  and midcaps  .NIFMDCP100  gain 0.4% and 0.2%,
respectively
    ** Analysts expect Indian markets to see marginal moves
between now and early January ahead of corporate earnings, due
to lack of major triggers
    ** Among individual stocks, drugmaker Biocon  BION.NS  gains
4% on European Union nod for generic diabetes, weight-loss
medication
    ** Consumer durables firm Amber Enterprises  AMBE.NS  jumps
7.5% to record high on report of potential demerger of its
electronics division
    

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