Indian shares opened on a positive note Tuesday amid positive global cues on receding worries about the impact of the Omicron coronavirus variant and as China’s central bank eased its monetary policy.
The benchmark 30-share BSE Sensex jumped as much as 555 points, or 1 percent, to 57,302 in early trade, while the broader NSE Nifty index was up 152 points, or 0.9 percent, at 17,064.
Commodity-related stocks surged, with Tata Steel, JSW Steel and Hindalco climbing 2-3 percent.
Private sector banks such as Axis Bank and Kotak Mahindra Bank were up 2-3 percent.
Tata Motors rose over 1 percent on reports it would hike prices of commercial vehicles from January.
HCL Technologies gained half a percent. The software services exporter said it will create 12,000 new jobs in the United States over the next five years.
Reliance Industries added about 1 percent after it raised $736 million in green loan to fund the acquisition of solar panel maker, REC Solar Holdings.
Pharma stocks underperformed, with Dr Reddy’s Laboratories and Cipla falling over 1 percent each.
Market Analysis
Sensex Zooms 550 Points; Nifty Regains 17,000
2021-12-07 04:22:04
