Indian shares opened higher on Thursday, tracking firm cues from global markets amid signs that U.S. debt ceiling negotiations are moving in the right direction.
The benchmark S&P BSE Sensex was up 295 points, or half a percent, at 61,855 in early trade, while the broader NSE Nifty index was up 70 points, or 0.4 percent, at 18,252.
Financials topped the gainers list, with HDFC Life, Axis Bank and Bajaj Finance all rising about 1 percent.
JSW Steel advanced 1.4 percent after it emerged as the preferred bidder for a composite license of an unexplored iron ore mine in Maharashtra.
Other metal stocks such as Hindalco and Tata Steel traded up around 1 percent.
Jubilant FoodWorks tumbled 3 percent after Q4 consolidated net profit plunged 70 percent.
REC rose half a percent on reporting a 33 percent rise in quarterly profit.
HDFC Bank gained 0.7 percent after the RBI allowed SBI Funds Management to buy up to 9.99 percent stake in the private sector lender.
Devyani International jumped 5 percent on reporting a 20 percent fall in its March quarter net profit.
SBI and ITC were seeing modest gains ahead of their earnings results due today.
Market Analysis
Sensex, Nifty Rise On Firm Global Cues; Metals And Financials Surge
2023-05-18 04:25:38
