BENGALURU, Jan 10 (Reuters) - Indian shares rose on Friday, tracking global markets, as U.S.-Iran tensions abated and investors looked for domestic cues ahead of corporate earnings.
The NSE Nifty 50 index inched up 0.16% to 12,234.25 by 0413 GMT, while the benchmark S&P BSE Sensex was 0.14% higher at 41,511.58. The Nifty 50 and Sensex are headed for a weekly gain of around 0.5% each.
Meanwhile, easing oil prices came as a relief for investors in India, the world’s third biggest oil consumer. Brent crude was headed for its first decline in six weeks.
“There was some panic and fears from global market which is fading out... domestic cues are also not that negative, in fact they are improving,” said Shrikant Chouhan, technical analyst at Kotak Securities.
MSCI’s broadest gauge of the world’s stocks in 49 countries rose a tad to hit an all-time high and its index of Asia-Pacific shares outside Japan rose 0.18%.
In India, IT heavyweight Infosys Ltd rose 1.44% ahead of its third quarter earnings due later in the day.
Shares of Indian private sector lender Yes Bank Ltd rose 1.37% ahead of a board meeting on Friday to discuss a capital raise as it looks to stave off the impact of bad loans.
Airline stocks Interglobe Aviation Ltd and SpiceJet Ltd reacted positively to lower oil prices, rising 1.68% and 0.94% respectively.
Bharti Infratel Ltd and Dr Reddy’s Laboratories Ltd were among the top gainers on the Nifty, rising 2.13% and 2.06% each. (Reporting by Philip George in Bengaluru; Editing by Shailesh Kuber)