FX.co ★ Sensex, Nifty Marginally Higher In Early Trade

Indian shares showed a slight increase in early trade on Thursday, influenced by positive global cues and the impending weekly options expiry of the Nifty 50 contracts.

The benchmark S&P BSE Sensex edged up by 11 points to 79,944, despite losing some of its initial gains. Meanwhile, the broader NSE Nifty index rose by 13 points to 24,337.

HCL Technologies, Tata Steel, BPCL, Coal India, and Tata Motors saw gains ranging from 1% to 2%, while Sun Pharma and HDFC Bank both declined by approximately 1%.

TCS gained 1.1%, marking the start of the earnings season for Nifty 50 companies.

YES Bank surged 7% following Moody's upgrade of its outlook to positive and ratings affirmation. Additionally, there are media reports of First Abu Dhabi Bank contemplating a bid for a stake in YES Bank.

Religare Enterprises rallied by 2.1% after the Securities Appellate Tribunal stayed a show cause notice issued by SEBI on June 19 concerning the Burman Family's open offer.

Nykaa increased by 2% following the sale of over 1.47 crore shares by the Canada Pension Plan Investment Board via a block deal.

Tata Elxsi dropped nearly 2% after reporting a 3% year-on-year decrease in Q1 net profit.

Glenmark Life fell by 1.7% as Glenmark Pharmaceuticals announced its exit from the company through the sale of its 7.84% stake via an offer for sale (OFS).

Siemens shares declined despite securing an order from Bangalore Metro Rail Corporation Limited for the electrification of Bengaluru Metro Phase 2 project.

Vedanta's stock decreased by 0.5% following the announcement of its demerger into six separate entities.

Power Grid Corp slipped by 0.6% after its board approved a plan to raise its borrowing limit to Rs. 15,000 crores for the 2024-25 period.