Indian shares opened Thursday’s session on a strong note after four sessions of losses. Sentiment was underpinned after Fed Chairman Jerome Powell stuck to his dovish tone at the end of a two-day policy meeting and indicated the central bank expects to keep interest rates at near-zero levels through 2023.
The benchmark S&P BSE Sensex jumped 412 points, or 0.8 percent, to 50,214 in early trade, while the broader NSE Nifty index was up 128 points, or 0.9 percent, at 14,846.
GAIL, Maruti Suzuki, Bajaj Finance, Hindalco and Tata Motors rose 2-3 percent while Dr Reddy’s Laboratories and Infosys gained around 1 percent.
Vodafone Idea rallied 2.5 percent on fund raising reports and amid news that it has added customers to its network for the first time in 15 months in January.
PNB gained 0.8 percent after it set up a wholly-owned subsidiary to manage its credit card business.
BHEL surged 7 percent after it emerged as the lowest bidder for supply of equipment for 6×700 MW nuclear power projects of Nuclear Power Corporation of India.
DLF advanced 1.3 percent on fund raising reports.
SBI Cards rose nearly 2 percent after CA Rover Holdings sold 4.25 percent stake in the company through an open market transaction.
MindTree added 0.6 percent. India Ratings and Research has upgraded the company’s long-term issuer rating to ‘IND AAA’ from ‘IND AA+’ with a stable outlook.
Sensex Up Over 400 Points; Nifty Nears 14,850
2021-03-18 04:22:48
