Indian shares opened on a positive note Monday despite mixed global cues amid concerns the Fed may raise interest rates sooner than expected.
Financials and IT companies gained ground while metal companies were coming under selling pressure due to a fall in iron ore prices.
The benchmark 30-share BSE Sensex climbed 250 points, or half a percent, to 54,531 in early trade, while the broader NSE Nifty index was up 67 points, or 0.4 percent, at 16,305.
Tech Mahindra, IndusInd Bank, Asian Paints, Bajaj FinServ and Mahindra & Mahindra climbed around 2 percent in the Nifty pack while JSW Steel, Hindalco and Tata Steel dropped 1-2 percent.
Bank of Baroda edged up slightly after it swung back to a profit in the June quarter on lower bad loan provisions.
DCB Bank lost 2.4 percent on reporting a 57 percent fall in Q1 net profit.
IDBI Bank gained about 1 percent on news that as many as seven firms have bid for managing the strategic sale of the lender.
Shree Cement rose 0.7 percent ahead of its earnings release.
Vodafone Idea jumped 5.6 percent and Bharti Airtel edged up slightly after reports that the Department of Telecommunications (DoT) may appoint an external consultant or set up a panel to finalize financial relief to the telecom sector.
Sensex, Nifty Open On Positive Note
2021-08-09 04:29:18
