Indian Shares Rise In Early Trade; Metal Stocks Surge
(RTTNews) - Indian shares opened higher on Monday, shrugging off mixed global cues and weak trade data released over the weekend.
The benchmark S&P/BSE Sensex climbed 315 points, or half a percent, to 59,118 in early trade, while the broader NSE Nifty index was up 87 points, or half a percent, at 17,627.
Tech Mahindra, ICICI Bank, Tata Steel, JSW Steel and Hindalco rallied 1-3 percent in the Nifty pack, while Nestle India, Power Grid Corp and Shree Cement all fell around 1 percent.
TCS edged up slightly after altering its pay hike policy for lateral hires.
SpiceJet gained 2 percent after it obtained three-month extension for conducting its AGM.
HFCL advanced 1.4 percent on fund raising reports.
PVR added 1.7 percent after Societe Generale bought 3.23 lakh shares in the company via a block deal.
JSW Steel jumped 2.2 percent on news LIC has increased its stake in the company to 7 percent from 5 percent.
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