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Sensex, Nifty Rise Despite Muted Global Cues; Financials Lead Surge
(RTTNews) - Indian shares opened on a positive note Wednesday despite muted cues from global markets and concerns over rising oil prices.
The benchmark S&P/BSE Sensex rose 263 points, or 0.4 percent, to 59,369 in early trade, while the broader NSE Nifty index was up 73 points, or 0.4 percent, at 17,471. HDFC Bank gained nearly 2 percent. The private sector lender has reported a 17 percent year-on-year (YoY) increase in advances in the January-March quarter of FY23.
NBCC (India) jumped 4 percent on bagging orders worth Rs 448.02 crore from the Government of India.
ONGC climbed 1.3 percent after the government cut windfall tax on domestically produced crude oil to nil from Rs. 3,500 a ton effective April 4.
Bajaj Finance rallied 3.6 percent on reporting 20 percent year-on-year rise in new loan bookings in the quarter ended March.
Adani Group stocks traded mostly higher on reports that an Adani Group joint venture with EdgeConneX is in talks with about half a dozen banks for a loan of about $220 million.
Britannia Industries rose half a percent after announcing its highest dividend payout in 3 years at Rs 72 a share.
IndusInd Bank fell over 1 percent despite reporting 21 percent annual growth in net advances in the March quarter.
TVS Motor rose 0.7 percent. Its Singapore based arm is buying a 25 percent stake in German based electric mobility products and components startup Killwatt GmbH.
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