Sensex Up Over 400 Points; Nifty Tops 17,800
(RTTNews) - Indian shares opened notably higher on Tuesday as traders returned to their desks after an extended weekend.
Sentiment was underpinned by firm global cues, falling oil prices and encouraging macroeconomic released over the weekend.
The benchmark S&P BSE Sensex jumped 435 points, or 0.7 percent, to 59,897 while the broader NSE Nifty index was up 126 points, or 0.7 percent, at 17,824.
Adani Ports soared 3.3 percent after its subsidiary Adani Logistics acquired inland container depot (ICD) Tumb from Navkar Corporation for Rs 835 crore.
Asian Paints gained 2.3 percent as crude prices extended losses on fuel demand worries.
Mahindra & Mahindra rallied 2.3 percent after expanding its electric vehicle partnership with Volkswagen.
State-run insurer LIC jumped 2.7 percent as it reported a multi-fold jump in standalone net profit to Rs. 682.89 crore for the June quarter compared to a profit of Rs. 2.94 crore in the same period last year.
Hero MotoCorp added 1.5 percent. The two-wheeler manufacturer said its consolidated Q1 profit after tax grew 71 percent year-on-year.
ONGC fell 1.6 percent despite reporting its highest quarterly net profit of Rs 15,206 crore in the June quarter on the back of record oil and gas prices.
SBI edged up slightly after hiking lending rates.
IOC was little changed on news it is planning to monetize two of its hydrogen generation units this year.
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