Sensex, Nifty Open Higher After Powell's Dovish Comments
(RTTNews) - Indian shares opened on a positive note Monday after Federal Reserve Chair Jerome Powell indicated the time has come for the policy to adjust.
The benchmark S&P/BSE Sensex was up 572 points, or 0.7 percent, at 81,659 in early trade, while the broader NSE Nifty index was up 157 points, or 0.6 percent, at 24,980.
ONGC gained nearly 2 percent on news it has opened another well on its flagship deep-sea project in Krishna Godavari basin in Bay of Bengal.
Reliance Industries rose 0.8 percent ahead of its AGM next week.
Jio Financial Services gained nearly 1 percent after it secured approval to raise the foreign investment cap in the company to 49 percent.
Alembic Pharma rallied 2.3 percent after it received final approval from FDA for its Abbreviated New Drug Application (ANDA) Betamethasone Valerate Foam.
Ashoka Buildcon advanced 1.8 percent as it emerged as the lowest bidder for the Mumbai Metropolitan Region Development Authority Project.
Anil Ambani-owned companies extended declines after market regulator SEBI imposed a five-year ban on Anil Ambani and 24 others.
Reliance Power and Reliance Home Finance both fell around 5 percent.
Transport Corporation of India slumped 6 percent despite the company announcing its first-ever buyback of its equity shares worth up to Rs. 160 crores.
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