Sensex Up Over 700 Points On Firm Global Cues; Nifty Tops 15,900
(RTTNews) - Indian shares opened sharply higher on Monday, mirroring firm global cues amid hopes that U.S. inflation is peaking and that the world's largest economy is still on a solid footing.
The benchmark S&P BSE Sensex jumped 714 points, or 1.3 percent, to 53,397 in early trade, while the broader NSE Nifty index was up 206 points, or 1.3 percent, at 15,905.
IT stocks led the surge, with Infosys, HCL Technologies and Tech Mahindra rallying 3-4 percent.
Wipro added 2.5 percent. Chairman Rishad Premji said the company is betting on hyperscaler partnerships, inorganic acquisitions, and cloud initiatives to deliver growth in the coming years.
Hindustan Copper jumped 2.4 percent on fund raising reports.
Other metal stocks also traded higher, with Hindalco and JSW Steel rising 2-3 percent.
Mahindra & Mahindra was little changed ahead of the 2022 Mahindra Scorpio-N launch. Adani Enterprises advanced 1.4 percent after its subsidiary Kutch Copper raised over Rs 6,000 crore to set up a greenfield copper refinery.
Indian Overseas Bank traded on a flat note. The state-run bank has unveiled plans to boost advances in retail, MSMEs, corporate, and agricultural loans during this year.
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