Indian shares opened on a positive note Monday after steep losses last week on muted global cues and profit booking by foreign and domestic institutional investors on concerns over expensive valuations.
The benchmark 30-share S&P BSE Sensex jumped 450 points, or 0.8 percent, to 59,755, while the broader NSE Nifty index was up 125 points, or 0.7 percent, at 17,796.
Banking, metal and IT stocks gained ground, with Tech Mahindra, IndusInd Bank, Hindalco, HCL Technologies and Tata Steel climbing 2-3 percent.
On the flip side, UPL tumbled after declaring its quarterly results. Tata Motors and Nestle India fell around 1 percent while Bajaj FinServ declined 2.7 percent.
IOC dropped half a percent on reporting a 2.1 percent rise in net profit in the second quarter of the current fiscal.
Vedanta was slightly higher despite market regulator SEBI warning the company over related-party transactions worth Rs. 1,407 crore.
SAIL jumped 11.5 percent after its quarterly profit jumped over 10-fold.
Bandhan Bank lost about 6 percent as it reported a loss of Rs 3,008.6 crore in Q2FY22 on huge provisions of over Rs 4,600 crore.
Bajaj Auto was marginally lower on reporting a 14 percent year-on-year decline in monthly auto sales.
Escorts fell 0.7 percent on posting 1 percent dip in October sales.
Market Analysis
Sensex Up 450 Points; Nifty Nears 17,800
2021-11-01 04:33:46
