Sensex Tops 80k On Fed Rate-cut Bets; Nifty Nears 24,300
(RTTNews) - Indian shares opened on a buoyant note Wednesday on growing optimism that the U.S. Federal Reserve will cut interest rates in September.
The benchmark S&P/BSE Sensex jumped 570 points, or 0.7 percent, to 80,013 in early trade while the broader NSE Nifty index was up 163 points, or 0.7 percent, at 24,287.
HDFC Bank rallied 2.7 percent after its April-June quarter shareholding data showed that the ownership of foreign institutional investors in the private lender has come down below the 55 percent mark during the quarter.
Rail Vikas Nigam climbed 1.5 percent on winning a new order from Central Railways.
KEC International surged 6 percent on securing new orders worth Rs 1,017 crore in the transmission & distribution (T&D) and clean energy sectors.
Motilal Oswal Financial Services jumped 3.4 percent despite an announcement that it has received a warning from SEBI for operational issues.
YES Bank gained 1 percent after sharing its Q1 business update.
ITC rose 0.6 percent after launching 'Sunfeast Dark Fantasy Choco Fills' in Nepal.
Zomato dropped half a percent after co-founder Pankaj Chaddah resigned from the company.
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