Indian shares opened on a positive note Wednesday after official data showed the Indian economy logged a record growth in the three months to June due to a low base last year.
GDP grew 20.1 percent year-on-year in the April to June quarter versus a 24.4 percent contraction in the same period of the fiscal year 2020-21, preliminary estimates from the statistics ministry showed. Economists had forecast 20 percent growth.
The benchmark 30-share BSE Sensex rose 173 points, or 0.3 percent, to 57,725 in early trade, while the broader NSE Nifty index was up 37 points, or 0.2 percent, at 17,169.
Bajaj Auto, Larsen & Toubro, Asian Paints, Eicher Motors and Axis Bank rallied 2-4 percent, while Tech Mahindra, Hindalco, HDFC, Maruti Suzuki India and Tata Steel lost 1-2 percent.
BHEL jumped 2.4 percent on winning an order worth Rs 10,800 crore from NPCIL.
Shoppers Stop soared 4.5 percent after it agreed to sell a controlling stake in its wholly-owned subsidiary Crossword Bookstores.
Mastek climbed 4.2 percent. The company has announced a partnership with fulfillmenttools to enable D2X (Direct to Stakeholder) transformation for their joint clients.
Maruti Suzuki India dropped 1.2 percent on news it is expecting a 60 percent cut in production in September due to shortage in supply of semiconductors.
Wipro was marginally higher. The company has partnered with HERE Technologies to offer location-based services to customers from various sectors.
Bank of India fell more than 1 percent after raising Rs 2,550 crore via a QIP issue.
Sensex, Nifty At Fresh Highs
2021-09-01 04:19:11
