Sensex, Nifty Climb As Global Markets Recover From Rout
(RTTNews) - Indian shares opened on a buoyant note Wednesday as a measure of calm returned to global markets and the government offered relief on long-term capital gains tax for immovable property.
Sentiment was also underpinned as the Bank of Japan downplayed expectations of interest rate hikes and oil prices slipped after an unexpected inventory build.
The benchmark S&P/BSE Sensex surged 650 points, or 0.8 percent, to 79,240 in early trade while the broader NSE Nifty index was up 234 points, or 1 percent, at 24,226.
ONGC soared 6 percent after its first-quarter profit beat expectations.
Hindalco, Shriram Finance, BPCL and Coal India were up 2-3 percent.
TVS Motor Company rallied 2.5 percent after Q1 profit rose 23 percent from last year. Vedanta climbed 2.5 percent as it reported a 37 percent rise in Q1 net profit.
Suzlon Energy jumped 3.3 percent after it agreed to acquire a 76 percent stake in Renom Energy Services.
Tata Power fell about 1 percent on posting muted growth in quarterly net profit.
TSX Ends Modestly Lower
Dollar Turns In Mixed Performance Against Major Counterparts
U.S. Stocks Close Notably Lower; Nasdaq Sheds 1.5 Percent
U.S. Stocks Down Firmly In Negative Territory; Nasdaq Tumbled 1.7 Percent
Swiss Market Ends On Firm Note
Canadian Dollar Declines Against Most Majors
European Markets Close Higher
