Sensex, Nifty Modestly Higher; Axis Bank Shares Climb 6%
(RTTNews) - Indian shares opened a tad higher on Friday, shrugging off mixed global cues as investors weigh the impact of aggressive interest rate hikes from major central banks on growth.
The benchmark S&P BSE Sensex rose 283 points, or half a percent, to 59,486 while the broader NSE Nifty index was up 72 points, or 0.4 percent, to 17,636.
Axis Bank jumped 6 percent and Canara Bank rallied 2.7 percent after posting encouraging financial results.
Hindustan Unilever, Kotak Mahindra Bank, HDFC Life and Apollo Hospitals Enterprise all gained around 2 percent.
Reliance Industries was marginally lower ahead of its earnings release.
Infosys slipped half a percent. The company has permitted employees to take up gig work with prior consent from managers.
Tata Consumer Products was little changed despite reporting a 36 percent rise in Q2 profit.
Vodafone Idea gained 2 percent. Market regulator SEBI has cleared the government's proposal to convert dues of over $1.92 billion by the telecom to equity.
TVS Motor Company rose 0.6 percent on news it would consider issue of zero-coupon debentures.
Mphasis tumbled 4.2 percent after announcing its Q2 results.
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