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Sensex Soars 673 Points; Nifty Nears 17,300
(RTTNews) - Indian shares rose sharply on Friday as traders returned to their desks after a holiday on Thursday for Sri Ram Navami.
Underlying sentiment was supported by easing worries about the global banking system and expectations that the Federal Reserve is nearing the end of its aggressive streak of rate hikes.
The benchmark S&P BSE Sensex was up 673 points, or 1.2 percent, at 58,633 in early trade, while the broader NSE Nifty index was up 206 points, or 1.2 percent, at 17,286.
Heavyweight Reliance Industries jumped 3 percent. The company called a shareholder meeting on May 2 to approve the demerger of its financial services business.
Hindalco, Nestle India, ICICI Bank and HCL Technologies climbed 2-3 percent. JSW Energy rallied 3.5 percent. Its subsidiary JSW Neo Energy has completed the acquisition of 1,753 MW of renewable energy assets from Mytrah Energy (India).
Bharat Dynamics surged 4.5 percent on securing an order worth Rs. 8,161 crore from the ministry of defense.
VA Tech WABAG soared 7.6 percent after its joint venture bagged a new order worth Rs 4,400 crore.
Hero MotoCorp gained 1 percent after appointing a new CEO.
Lupin fell about 2 percent after the U.S. FDA issued Form 483 with 10 observations to its Pithampur plant.
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