BENGALURU, Jan 16 (Reuters) – Indian shares opened higher on Monday, helped by a better-than-expected earnings report from HDFC Bank, the country’s largest private lender, although higher oil prices and continued foreign investor selling kept a lid on gains.
Ten of the 13 major sectoral indexes advanced, with the heavyweight financials (.NIFTYFIN) rising more than 0.5%.
On the flip side, data shows foreign portfolio investors have sold 150.68 billion rupees ($1.85 billion) worth of equities in 2023 so far.
Meanwhile, oil prices held near 2023 highs on optimism that China’s reopening will lift demand. High crude prices hurt big importers like India as they hurt inflation and government financials.
($1 = 81.2950 Indian rupees)
Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D’Souza
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