Sensex, Nifty Rise On Firm Asian Cues, Tech Mahindra Slumps 4%
(RTTNews) - Indian shares opened on a buoyant note Thursday, tracking firm cues from other Asian markets after the U.S. Federal Reserve announced a 25-bps rate hike and left the door open for future hikes.
The benchmark S&P BSE Sensex was up 270 points, or 0.4 percent, at 66,977 in early trade, while the broader NSE Nifty index was up 88 points, or half a percent, at 19,866.
Cipla jumped 8 percent after reporting encouraging earnings results. Jindal Stainless rallied over 2 percent as it reported 45 percent growth in Q1 net profit.
Marico added 1.6 percent on news it would acquire 58 percent stake in Plix, a plant-based nutrition brand, for Rs 369.01 crore.
Bharti Airtel, Bajaj FinServ, Divis Laboratories and Hindalco climbed 1-2 percent.
Axis Bank edged down slightly despite reporting a 41 percent jump in Q1 net profit.
RBL Bank fell about 1 percent after Mahindra and Mahindra acquired a 3.53 percent stake in the bank for Rs 417 crore.
Rail Vikas Nigam tumbled 4 percent after the Centre announced an offer for sale to offload 5.36 percent stake in the company.
Tech Mahindra slumped 4 percent on reporting disappointing Q1 numbers.
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