Indian shares opened higher on Monday to reach fresh record highs after Fed Chair Powell laid out a slower-than-expected path to rate hikes.
The benchmark 30-share Sensex jumped 427 points, or 0.8 percent, to 56,552 in early trade, while the broader NSE Nifty index was up 133 points, or 0.8 percent, at 16,838.
Bharti Airtel advanced 1.6 percent after its board approved raising capital up to Rs. 21,000 crore via a rights issue.
IGL gained half a percent after revising the retail prices of CNG & PNG.
Vedanta rallied 2 percent. The company’s board will meet this week to consider and approve the first interim dividend for 2021-22.
Mahindra & Mahindra climbed 1.8 percent after its group firm Mahindra Defence Systems secured a contract worth Rs 1,349.95 crore.
Nazara Technologies jumped 3.7 percent after its board approved the acquisition of Hyderabad-based OpenPlay for Rs 186.41 crore.
Tata Motors jumped 2.4 percent. The company has received approval of the National Company Law Tribunal (NCLT) Mumbai bench to hive off its passenger vehicles business unit into a separate entity.
Market Analysis
Sensex, Nifty Scale New Highs
2021-08-30 04:25:41
