Sensex, Nifty Open Higher As Fed Meeting Gets Underway
(RTTNews) - Indian shares opened on a positive note Tuesday despite mixed global cues.
A two-day policy meeting of the U.S. Federal Reserve gets underway later today, with market participants waiting to see what comments the FOMC and Powell make regarding the future path of U.S. monetary policy given a weakening economic backdrop.
The benchmark S&P BSE Sensex climbed 315 points, or half a percent, to 61,060 in early trade, while the broader NSE Nifty index was up 101 points, or 0.6 percent, at 18,113.
Among the top gainers, Hindustan Unilever, Grasim, Divis Laboratories, Dr Reddy's Laboratories and Apollo Hospitals Enterprise jumped 1-3 percent.
Bharti Airtel rose half a percent after it posted an 89 percent year-on-year rise in consolidated net profit for the September quarter.
Tata Steel lost over 2 percent after its Q2 profit plummeted 87 percent on flat revenue.
Larsen & Toubro fell about 1 percent despite the engineering and infrastructure conglomerate beating estimates for the September quarter on most parameters.
Gateway Distriparks edged down slightly on news it will acquire 99.2 percent equity shareholding of Kashipur Infrastructure and Freight Terminal Private Ltd.
Shriram Properties advanced 1.5 percent after it signed a pact with ASK Property Fund to set up a Rs 500-crore investment platform to acquire housing projects in Bengaluru, Chennai, and Hyderabad.
Glenmark Pharmaceuticals also rose about 1.5 percent after launching Fingolimod capsules in the United States.
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