Aug 6 (Reuters) – Indian shares edged higher at the open on Thursday, supported by hopes of a diplomatic breakthrough in the Middle East and a better-than-expected June-quarter earnings season.
Analysts said they expect the market to consolidate in the near term, with any dips likely to attract buyers.
The Nifty was up 0.07% to 24,641, while the BSE Sensex added 0.26% to 78,782.43 by 9:15 a.m. IST.
The Nifty and Sensex gained 0.04% and 0.19%, respectively, in the previous session after the Reserve Bank of India held rates as expected, raised its financial year 2027 growth forecast and reaffirmed its commitment to the inflation target.
Nine of the 16 major sectors logged gains. The broader small-caps and mid-caps rose 0.4% and 0.1%, respectively.
Brent crude fell on Thursday, trading below $80 a barrel as investors assessed whether progress in Iran-Oman talks could pave the way for a U.S.-Iran peace deal. [O/R]
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Harikrishnan Nair and Nivedita Bhattacharjee)