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Sensex, Nifty Modestly Higher In Early Trade; Metal Stocks Outperform
(RTTNews) - Indian shares opened a tad higher on Monday despite weak cues from the U.S. and European markets.
The benchmark S&P BSE Sensex edged up 205 points, or 0.3 percent, to 61,045 in early trade, while the broader NSE Nifty index was up 54 points, or 0.3 percent, at 18,159.
Tata Steel, Hindalco and SAIL climbed 2-3 percent after China announced to raise export duty on metals.
PNB gained 1.7 percent after hiking interest rates on savings accounts and fixed deposits.
Hero MotoCorp edged down slightly after it commenced deliveries of Vida V1 electric scooter.
Tata Motors added 1.7 percent after reporting a 14 percent increase in total sales for the December quarter.
Maruti Suzuki India rose half a percent after unveiling its monthly sales figures.
DLF rose about 1 percent on news it would take legal action against New Okhla Industrial Development Authority's (Noida) demand for payment of over Rs 234 crore in connection with a dispute over a parcel of land.
HG Infra Engineering gained 1 percent after it emerged as the lowest bidder for a DMRC (Delhi Metro Rail Corporation) project.
REC rallied 1.6 percent as it received board approval for the sale of its entire shareholding in WRSR Power Transmission to Adani Transmission.
Religare Enterprises jumped 2 percent after its NBFC arm Religare Finvest made a one-time settlement on outstanding dues with 16 lenders.
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