Sensex, Nifty Climb Higher On Earnings, Positive Global Cues

(RTTNews) - After a positive start and a subsequent retreat, BSE benchmark Sensex and the National Stock Exchange's Nifty50 moved higher Thursday morning, with investors picking up stocks, reacting to some encouraging earnings announcements.

Optimism about a potential India-U.S. trade deal that might reduce punitive tariffs, and the passage of a bill to end the longest US government shutdown in history, are aiding sentiment to a significant extent.

The BSE, which opened at 84,525.89, swiftly dropped to 84,253.05, but climbed to 84,794.07, gaining 327.56 points or 0.39%.

The Nifty50 fell to 25,808.40 after opening at 25,906.10, but moved up to 25,975.95, gaining 100.15 points or nearly 0.4%.

Asian Paints, up 3.3%, tops the list of gainers in the Sensex. The stock is up following the company reporting a 43% jump in net earnings in the second quarter.

ICICI Bank and Tata Steel are up nearly 2% at Rs 182.10 and 1,385.00, respectively. Bharti Airtel, Bajaj Finserv, Power Grid Corporation, State Bank of India and Maruti Suzuki are up 0.5 to 1.1%.

Tata Steel is rising more than 2%. Jio Financials, Hindalco, Indigo, JSW Steel and Adani Enterprises are up 1 to 1.8%.

Eternal, Tata Motors Commercial Vehicles, Tech Mahindra, M&M, Kotak Bank and Tata Motors Passenger Vehicles are down in negative territory.

ONGC, Shriram Finance, BEL and Tata Consumer Products are also showing weakness.

Honasa Consumer Ltd. shares are up more than 4% despite paring a substantial portion of early gains. The stock is up following the company reporting a net profit of Rs 39 crore in the second quarter of its current fiscal year, as against a net loss of Rs 18 crore in the year-ago quarter.

Pharma stock Pfizer is up 2.3% after reporting a 19% jump in second quarter net earnings.