Sensex Soars 540 Points; Nifty Nears 17,700
(RTTNews) - Indian shares opened on a strong note Thursday as softer-than-expected U.S. inflation data eased concerns over the Federal Reserve's aggressive rate hikes and boosted investors' appetite for riskier assets.
The benchmark S&P BSE Sensex soared 540 points, or 0.9 percent, to 59,358 in early trade, while the broader NSE Nifty index was up 146 points, or 0.8 percent, at 17,681.
Titan, Wipro, IndusInd Bank and Tech Mahindra rallied 2-3 percent while Tata Consumer Products led declines with a 2 percent loss.
IRCTC fell about 1 percent despite posting a nearly 200 percent jump in quarterly profit.
Coal India rose 0.8 percent after posting a 179 percent rise in its consolidated net profit for the April-June quarter.
Eicher Motors added 1.5 percent as it reported a 157 percent rise in quarterly consolidated net profit.
SAIL tumbled 2.2 percent on reporting an 80 percent fall in Q1 net profit.
Bank of Baroda climbed 3 percent after hiking lending rates.
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