Sensex, Nifty Rally As Yields Dip On Weak US Data
(RTTNews) - Indian shares opened on a strong note Friday as signs of a cooling U.S. economy pressured bond yields and bolstered expectations of potential rate cuts by the Federal Reserve.
Investors also cheered Modi government's interim budget that outlined plans to narrow the fiscal deficit in fiscal 2025.
The benchmark S&P BSE Sensex soared 780 points, or 1.1 percent, to 72,415 in early trade while the broader NSE Nifty index was up 245 points, or 1.1 percent, at 21,942.
Adani Ports jumped nearly 5 percent after Q3 earnings beat estimates.
Dr Reddy's Laboratories rose about 1 percent to extend gains from the previous session after reporting better-than-expected December quarter results.
TCS advanced 1.7 percent on reports it has linked promotions and variable payouts to compliance with the return-to-office mandate.
Voltas added half a percent after reporting mixed Q3 results.
Policybazaar parent firm PB Fintech declined 0.7 percent after Singaporean investment fund Temasek Holdings offloaded its entire stake in the company for Rs. 2,425 crores through open market transactions.
Coromandel International gained 0.6 percent after its board approved a plan to set up a phosphoric acid plant at its Kakinada unit.
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