Indian shares were seeing modest gains in cautious trade on Monday despite mixed cues from global markets.
The rupee opened higher amid a softer greenback and easing crude oil prices.
The benchmark S&P/BSE Sensex was up 267 points, or 0.4 percent, at 65,547 in early trade, while the broader NSE Nifty index was up 74 points, or 0.4 percent, at 19,405.
Market heavyweight Reliance Industries jumped 3.7 percent after the announcement of record date for Jio Financials’ demerger.
Automakers advanced, with Bajaj Auto rising nearly 2 percent after saying it expects a gradual increase in exports by the end of 2023.
Financials also traded higher, with SBI and HDFC Life gaining 0.9 percent and 1.6 percent, respectively.
RVNL added 1.5 percent after it emerged as the lowest bidder for the NHAI project worth Rs. 808 crore.
HDFC Bank rose 0.6 percent on news it will sell a 2 percent stake in the initial public offering (IPO) of National Securities Depository (NSDL).
TCS, Wipro and HCL Technologies fell 1-2 percent ahead of their Q1 earnings results due this week.
Aurobindo Pharma lost 2.2 percent after it entered into an exclusive license agreement with U.S.-based BioFactura to commercialize BFI-751, a proposed biosimilar to Stelara (Ustekinumab).
Market Analysis
Sensex, Nifty See Modest Gains In Cautious Trade
2023-07-10 04:30:06
