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Sensex, Nifty Rally As Middle East Fears Ease
(RTTNews) - Indian shares opened on an upbeat note on Friday as Israel heeded to US' request of delaying its Gaza invasion to make time to negotiate hostage releases and keep humanitarian aid flowing into Gaza.
The benchmark S&P BSE Sensex was up 530 points, or 0.8 percent, at 63,669 in early trade while the broader NSE Nifty index was up 155 points, or 0.8 percent, at 19,012.
PNB rallied 3.4 percent after reporting a 327 percent surge in quarterly net profit. Reliance Industries added 1.5 percent, Cipla rose 0.7 percent, Dr Reddy's Laboratories gained 0.3 percent and Maruti Suzuki India climbed 1.3 percent ahead of their earnings results due today.
Asian Paints was down slightly after it reported a smaller-than-expected jump in second-quarter profit, hurt by muted sales.
Indus Tower added 0.7 percent after reporting negative cash flows for the second straight quarter.
Vodafone Idea rose nearly 2 percent despite widening its Q2 net loss due to subscriber loss and increased expenses.
Canara Bank soared 5 percent after reporting a 43 percent jump in Q2 profit on improved asset quality.
ACC gained about 1 percent after Q2 profit beat estimates.
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