Indian shares opened on a positive note Tuesday, tracking firm cues from global markets as investor concerns about inflation and higher interest rates receded.
The benchmark S&P BSE Sensex climbed 360 points, or 0.7 percent, to 50,210 in early trade, while the broader NSE Nifty index was up 123 points, or 0.8 percent, at 14,885.
SBI rose 0.7 percent after slashing interest rates on home loans.
Bharti Airtel and Vodafone Idea were seeing modest gains after reports that the government has managed to mop up Rs 77,146 crore on the first day of auction of spectrum for 4G airwaves.
BPCL surged 4.5 percent on news the company is selling its entire stake in Numaligarh refinery for Rs 9,875 crore.
Shipping Corporation of India jumped as much as 18 percent after the government received multiple bids for privatization of the company.
Hero MotoCorp added nearly 2 percent on reporting marginal growth in vehicle sales in February.
VST Tillers climbed 3.4 percent after reporting a 58.6 percent rise in sales of power tillers in February.
Tata Motors was trading flat. The Delhi government has temporarily suspended incentives offered on its electric sport utility vehicle, Nexon, following complaints that the model failed to meet the specified range on a single charge.
Indraprastha Gas rallied 4 percent after revising the prices of CNG and PNG.
Sensex Above 50K; Nifty Nears 14,900
2021-03-02 04:24:21
