Sensex, Nifty Edge Higher As Automakers Surge
(RTTNews) - Indian shares opened on a positive note Monday after U.S. stocks rose for a third straight session on Friday, helped by strong quarterly earnings from the likes of Amazon and Apple.
The upside remained capped as weak manufacturing data from China and Japan added to concerns about the global economic outlook.
The benchmark S&P BSE Sensex rose 201 points, or 0.4 percent, to 57,771 in early trade, while the broader NSE Nifty index was up 70 points, or 0.4 percent, at 17,228.
Automakers were seeing strong gains ahead of the release of July sales data.
Mahindra & Mahindra soared 6.3 percent, Maruti Suzuki India jumped 3. 4 percent and Tata Motors added 2.3 percent.
Cipla rose over 4 percent despite reporting lower Q1 profit.
Indiabulls Housing Finance advanced 1.7 percent after hiking interest rates on home loans.
IDFC First Bank rallied 3.6 percent after reporting its highest ever net profit of Rs 474 crore for the quarter ended June 2022.
Tata Steel added 1 percent on news it would roll out the 'First in India' seating system for Vande Bharat Express trains from September 2022.
Bank of Baroda fell nearly 2 percent despite reporting a 79 percent jump in Q1 profit.
Similarly, DCB Bank lost 3 percent despite posting nearly three-fold jump in quarterly profit.
IOC tumbled 2.6 percent on reporting a quarterly net loss, hit by a sharp fall in retail fuel margins for petrol and diesel.
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