INDIA STOCKS-Indian shares start 2023 marginally higher on metals boost
Indian shares opened marginally higher on Monday, the first trading session of 2023, helped by an uptick in metals. The Nifty 50 index was up 0.14% at 18,129.95 as of 9:28 a.m. IST,... | January 2,…

BENGALURU, Jan 2 (Reuters) - Indian shares opened
marginally higher on Monday, the first trading session of 2023,
helped by an uptick in metals. The Nifty 50 index was up 0.14% at 18,129.95 as of
9:28 a.m. IST, while the S&P BSE Sensex rose 0.12% to
60,917.55. Most of the major sectoral indexes logged gains. Metals rose over 1.5% after China announced
plans to raise export tariffs on aluminium from Jan. 1 in a bid
to improve domestic demand, which analysts said will aid
market-share growth for Indian companies. Asian markets were trading mixed, with the MSCI Asia
ex-Japan index rising 0.05%. The International Monetary Fund's (IMF) managing director
warned that 2023 would be a tougher year than 2022 for the
global economy as all the major engines of global growth–United
States, China and Europe–experience weakening activity. Oil prices rose on year-end holiday travel, with Brent crude
futures at around $86 per barrel. Higher oil prices hurt
oil-importing countries like India, where crude constitutes the
bulk of the country's import bill. Among individual stocks, Tata Motors rose nearly
2% after the company reported a 10% jump in domestic sales in
December.
($1 = 82.7170 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by
Uttaresh.V and Savio D'Souza)