Indian shares opened higher on Friday, tracking firm global cues and amid expectations that the government will unveil more fiscal stimulus to support the economy.
The benchmark S&P BSE Sensex rallied 320 points, or 0.6 percent, to 51,433 in early trade, while the broader NSE Nifty index was up 111 points, or 0.7 percent, at 15,449.
Sun Pharmaceutical Industries fell nearly 3 percent as it missed analysts’ estimates on the top-line due to lower U.S. sales.
Tyre maker Goodyear India surged 5.4 percent after it reported over threefold jump in its profit after tax for the March quarter.
UCO Bank jumped 5 percent after its Q4 net profit jumped nearly fivefold.
Kalyan Jewelers gained about 1 percent on reporting a 54 percent jump in Q4 profit.
Eicher Motors climbed 3 percent after posting a 73 percent jump in Q4 consolidated profit.
TCS edged up slightly after it acquired GE’s stake in Tata Consultancy Services Saudi Arabia.
Cadila Healthcare dropped more than 1 percent despite reporting a 73 percent jump in Q4 profit.
Glenmark Pharmaceuticals rose 0.3 percent, Indian Bank added over 2 percent and Ipca Laboratories gained nearly 1 percent ahead of their quarterly earnings due today.
Infosys added 0.6 percent after co-founder S D Shibulal picked shares worth Rs 100 crore of the firm through an open market transaction.
Market Analysis
Sensex Up Over 300 Points; Nifty Nears 15,450
2021-05-28 04:25:34
