Sensex, Nifty Gain On Fed Rate Optimism; Tata Motors Rallies 3%
(RTTNews) - Indian shares opened on a positive note Friday in the wake of upbeat cues from global counterparts as weak U.S. labor market data added to bets that the U.S. central bank is done with the most aggressive tightening cycle in four decades.
The benchmark S&P BSE Sensex jumped 346 points, or half a percent, to 64,424 in early trade, while the broader NSE Nifty index was up 107 points, or 0.6 percent, at 19,240.
Tata Motors jumped nearly 3 percent after delivering strong performance in the second quarter.
Adani Power soared 3.4 percent on reporting over nine-fold jump in Q2 net profit.
Dabur India added about 1 percent on reporting a marginal rise in quarterly profit.
Coal India rose 0.7 percent after reporting a 12 percent rise in output so far this year.
JK Lakshmi Cement surged 5.6 percent on posting robust earnings for the quarter ended September.
IRFC fell more than 1 percent after quarterly profit dropped 9 percent year-on-year.
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