Sensex, Nifty Rally On Global Cues; IT And Auto Stocks Lead Gains
(RTTNews) - Indian shares opened on a positive note Monday, mirroring firm global cues as investors awaited this week's Federal Reserve meeting for clues on whether a pivot on the pace of rate hikes is on the table.
The benchmark S&P BSE Sensex jumped 604 points, or 1 percent, to 60,564 in early trade, while the broader NSE Nifty index was up 182 points, or 1 percent, at 17,969.
IT and auto stocks topped the gainers list, with Infosys, Eicher Motors, Mahindra & Mahindra, Maruti Suzuki India and Tech Mahindra all rising around 2 percent.
Bharti Airtel and Larsen & Toubro were up around 1 percent each ahead of their earnings results.
Maruti Suzuki India rallied 2.2 percent. The carmaker is recalling 9,925 units of its three models, Wagon R, Celerio and Ignis, to rectify a possible defect in a rear brake assembly pin.
IOC was little changed after posting a Rs. 272-crore loss in the September quarter. Vedanta edged down slightly as it reported a 61 percent decline in consolidated net profit for the September quarter on the back of higher expenses.
Dr Reddy's Laboratories added 1.7 percent on posting a 12 percent growth in Q2 consolidated net profit.
Hero MotoCorp rose about 1 percent. The two-wheeler manufacturer said it has registered retail growth of 20 percent year-on-year during the festive period.
European Shares Seen Mostly Lower Before US Inflation Data
Sensex, Nifty Struggle For Direction In Early Trade
Australian Market Swings To Modest Gains In Mid-market
Asian Markets Mixed Amid Caution Trades
Sensex, Nifty Seen Tad Higher At Open As IIP Growth Recovers
Thai Stock Market Tipped To Open In The Green
Japanese Market Notably Lower
