Indian shares opened on a firm note as investors cheered positive inflation and industrial output data released post-market hours Thursday.
The benchmark 30-share BSE Sensex rose 250 points, or half a percent, to 55,095 in early trade, while the broader NSE Nifty index was up 73 points, or half a percent, at 16,437.
Bajaj Auto, Mahindra & Mahindra, Hindalco, Tata Consumer Products and BPCL climbed 1-2 percent in the Nifty pack, while drug makers such as Sun Pharma, Dr Reddy’s Laboratories and Cipla all fell about 1 percent.
Tata Steel gained about 1 percent on posting turnaround results for the June quarter.
ONGC edged up marginally and Grasim Industries rose 0.8 percent ahead of their earnings results.
Bharti Airtel dropped half a percent. South Korea’s Hanwha Systems invested $300 million in OneWeb, the Low Earth Orbit (LEO) satellite communications company backed by billionaire Sunil Mittal-run Bharti Group.
Hero MotoCorp was moving lower despite reporting over four-fold jump in quarterly profit year-over-year.
ITC rallied more than 1 percent. The company said it plans to invest around USD 2 billion as part of its ‘ITC Next’ strategy.
NMDC was little changed after it reported a 500 percent jump in consolidated net profit for the quarter ended June.
Future Retail fell over 1 percent. The group’s promoters have moved the Supreme Court challenging the Delhi HC order on the Reliance-Future group deal.
Market Analysis
Sensex Rises 250 Points In Early Trade; Nifty Tops 16,400
2021-08-13 04:35:01
