(Adds opening levels)
By Bharath Rajeswaran
BENGALURU, Feb 24 (Reuters) - Indian shares rose on
Friday, aided by financials and tracking a rebound in U.S.
equities, although fears of aggressive interest rate hikes by
global central banks persisted.
The Nifty 50 index rose 0.25% to 17,557.05, while
the S&P BSE Sensex edged 0.30% higher to 59,782.69 as
of 9:38 a.m. IST.
Ten of the 13 sectoral indexes advanced with the
high-weightage financials rising over 0.3%.
Media extended its fall, losing 0.7%, dragged by
index heavyweight Zee Entertainment . Shares of the
company tumbled nearly 4% on insolvency issues and the National
Stock Exchange's ban on derivatives trading, effective April 28.
Wall Street equities ended in positive territory overnight,
with the S&P 500 snapping a four-session losing streak, even as
economic data demonstrated the strength of the U.S. economy and
heightened chances of the Federal Reserve continuing with its
tight monetary policy stance.
Weekly jobless claims in the U.S. unexpectedly fell last
week, according to official data on Thursday, reflecting the
tight labour market in the world's largest economy.
Among individual stocks, Sanofi India rose more
than 4% after reporting a rise in net profit in the December
quarter.
Olectra Green jumped more than 10% after the
company said it developed a hydrogen bus to ply on Indian roads
in a technical partnership with Reliance Industries .
Indian shares fell for the fifth session in a row on
Thursday, with the benchmark Nifty 50 losing nearly 2.5%
this week so far, on track for the worst week in three months.
($1 = 82.5900 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; editing by
Eileen Soreng and Janane Venkatraman)
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