Indian stocks edge up 0.5%

Indian main stock index Sensex picked up 83.41 points or 0.5 percent in the early trading session Tuesday from sharp drop in the previous trading session.

The index opened at 16,760.60 points, 20.47 points lower from previous close of 16,781.07 points.

Fast moving consumer goods sector led the growth and gained 1.3 percent, followed with auto, banking and power sectors up 0.93 percent, 0.85 percent and 0.81 percent, respectively.

Meanwhile, oil and gas sectors declined 0.35 percent dragged by 1.57 percent drop of Indian top oil and gas developer ONGC.

Reliance Communications also dipped 0.71 percent after U.S.- based telecom operator AT&T denying talks with it on purchase of partial stakes to be diluted.

Sensex is the common name for the Bombay Stock Exchange Sensitive Index. It consists of the 30 largest and most actively traded stocks, representative of various sectors, on the Bombay Stock Exchange.

Source:Xinhua