Indian shares were slightly higher on Monday while the rupee weakened against the dollar as the U.S. debt ceiling worries took center stage.
The benchmark S&P BSE Sensex was up 140 points, or 0.2 percent, at 61,869 in early trade ahead of debt ceiling talks between U.S. President Joe Biden and House Republican Speaker Kevin McCarthy later in the day.
The broader NSE Nifty index was up 60 points, or 0.3 percent, at 18,263.
Adani Group stocks surged, with Adani Enterprises climbing 5.2 percent and Adani Ports adding 3.3 percent.
Divis Laboratories gained 1.6 percent despite reporting weak Q4 earnings.
Bajaj Auto and NTPC both were up around 2 percent.
Metal stocks traded weak, with JSW Steel and Hindalco rising around 1 percent.
Bandhan Bank edged down slightly after reporting a 57.5 percent year-on-year decline in its March quarter profit.
Punjab National Bank rallied 2.3 percent after its quarterly profit grew multi-fold.
TCS added 0.8 percent. A consortium led by thee company has received an advance purchase order worth over Rs 15,000 crore from BSNL.
Market Analysis
Sensex, Nifty Slightly Higher As Adani Group Stocks Rally
2023-05-22 04:14:50
