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Cipla lifts Indian shares at the open; Canara Bank rises on MSCI inclusion

Wednesday,   15-May-2024   09:46 AM (IST)

Indian shares opened higher helped by gains in drugmaker Cipla after a report of the promoter group's stake sale plan, while lender Canara Bank jumped on its inclusion into a key MSCI index among twelve others, post its quarterly rejig. Canara Bank gained 3% in early trade. The blue-chip NSE Nifty 50 was up 0.2% at 22,261.70 points, while the BSE Sensex rose 0.13% to 73,199.06, as of 9:20 a.m. IST. Cipla jumped about 5% at the open after broadcaster CNBC-TV18 reported on Tuesday that the promoter group of India's third-largest drugmaker is looking to sell a stake worth $316 million via a block deal. This lifted Nifty Pharma stocks up 0.9%, with Cipla set to be the top percentage gainer on the benchmark. Meanwhile, telecom operator and Nifty constituent Bharti Airtel rose 1.5% after its results and was among top early gainers on the benchmark.