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Sensex Surges Over 1,000 Points On Global Cues; Nifty Tops 17,300
(RTTNews) - Indian shares opened Friday's session on an upbeat note after short covering drove a dramatic rebound on Wall Street overnight. Encouraging earnings updates from IT firms Infosys and MindTree also buoyed sentiment.
The benchmark S&P BSE Sensex was up 1,050 points, or 1.8 percent, at 58,287 in early trade, while the broader NSE Nifty index was up 301 points, or 1.8 percent, at 17,315.
Infosys jumped 4 percent after raising its annual revenue forecast and announcing a Rs. 9,300 crore share buyback.
Mindtree rallied 2.8 percent on reporting 27.5 percent rise in net profit for the September quarter.
HCL Technologies added 3.7 percent to extend gains from the previous session.
HDFC Life rose over 1 percent after it received IRDAI's final approval to merge Exide Life into the company.
Banks SBI and ICICI Bank rose 2-3 percent. Bajaj Auto gained 1.2 percent ahead of its earnings release.
MTNL soared 3 percent on fund raising reports.
Power Mech Projects advanced 2.6 percent as it secured a Letter of Award worth Rs 499.41 crore from Bangalore Metro Rail Corporation.
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