Sensex, Nifty Rally As Border Tensions Ease
(RTTNews) - Indian shares were sharply higher in early trade on Monday as investors reacted to easing Indo-Pak tensions and positive indications coming from China-U.S. trade talks.
The benchmark S&P/BSE Sensex jumped 2,150 points, or 2.7 percent, to 81,612 while the broader NSE Nifty index surged 660 points, or 2.8 percent, to 24,671.
Among the top gainers, Power GridCorp, Bajaj FinServ, Bajaj Finance, Axis Bank, Infosys and Adani Ports all climbed around 4 percent.
Adani Power soared 6 percent on winning a contract to supply 1,500 MW thermal power to Uttar Pradesh at Rs 5.383/unit.
Yes Bank jumped 3 percent after Japan's Sumitomo Mitsui Banking Corporation bought a 20 percent stake in the bank from SBI-led consortium.
ABB India rallied 4 percent after reporting a margin rise in quarterly profit.
Pharma stocks such as Cipla, Aurobindo Pharma and Lupin fell 1-2 percent after U.S. President Donald Trump promised to sign an executive order to lower the cost of U.S. prescription drug costs, mandating that Americans pay no more than people in countries that have the lowest price.
Peer Dr Reddy's Laboratories edged up slightly after reporting a 22 percent year-on-year jump in its quarterly profit.
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