Indian equities made slight gains during early trading on Thursday, buoyed by favorable inflation data that heightened expectations of at least two interest rate cuts by the U.S. Federal Reserve in 2024.
The S&P BSE Sensex climbed 208 points, or 0.3 percent, reaching 73,195. Meanwhile, the broader NSE Nifty index rose by 67 points, also a 0.3 percent increase, settling at 22,268.
IT sector stocks experienced widespread increases, with companies like LTIMindTree, HCL Technologies, Tech Mahindra, and Infosys each advancing approximately 2 percent.
Mahindra & Mahindra's stock appreciated by 1 percent ahead of the company's earnings announcement.
SpiceJet surged 2.4 percent following a Delhi High Court directive for the airline to return two leased Boeing aircraft and engines to lessor TWC Aviation Capital due to unpaid dues.
Bharti Airtel saw a 1.8 percent rise after CEO Gopal Vittal underscored the critical need for 'substantial tariff repair' in the telecom industry.
Titagarh Rail Systems soared by 7.4 percent, reporting a remarkable 64 percent year-on-year growth in net profit for Q4FY24.
Power Finance Corp gained 2.3 percent after disclosing a 25 percent increase in net profit for FY24.
TVS Motor Company advanced by 1 percent following successful market entry in Italy.
Conversely, Jindal Stainless dropped nearly 3 percent after allocating Rs 4,700 crore for capital expenditures in the current fiscal year.
Colgate-Palmolive India saw a slight decline amid reports that it plans to introduce new products from its international portfolio of personal and home care brands in the upcoming quarters.