Indian shares open higher led by energy stocks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 19 2024
0mins
Source: Reuters
Market Performance: Indian shares opened higher, driven by energy stocks following a cut in the windfall tax on crude oil, with the NSE Nifty 50 index rising 0.36% and the S&P BSE Sensex increasing by 0.3%.
Sector Gains: Eleven out of thirteen major sectors saw gains, particularly in energy and oil & gas, with companies like ONGC and Oil India experiencing significant increases after the government reduced the windfall tax.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
