Indian shares opened on a firm note Friday after data showed the U.S. economy grew at an estimated 2.8 percent annual rate from April through June, double the rate from the prior quarter.
Signs of cooling inflation in the world’s largest economy also boosted hopes for Fed rate cuts.
The benchmark S&P BSE Sensex rose 320 points, or 0.4 percent, to 80,356 while the broader NSE Nifty index was up 115 points, or half a percent, at 24,521.
Among the prominent gainers, Wipro, Infosys, Bharti Airtel, Shriram Finance and LTIMindTree all climbed over 2 percent.
Canara Bank rose about 1 percent after it announced plans to sell shares in two subsidiaries.
Adani Green Energy gained 1 percent after reporting 95 percent jump in consolidated net profit for the quarter ended June 30, 2024.
DLF jumped more than 3 percent on reporting a 23 percent increase in quarterly profit.
Ashok Leyland soared 4 percent despite reporting a fall in Q1 profit.
Texmaco Rail and Engineering added 1.3 percent after it agreed to acquire Jindal Rail Infra for Rs. 615 crores.
Adani Energy Solutions rallied 2.2 percent despite reporting a consolidated net loss of Rs 824 crore for the June quarter due to exceptional items.
Indus Towers surged 4 percent on share buyback news.
Tech Mahindra fell 2 percent after Q1 profit missed estimates.
Nestle India, HDFC Bank and ONGC all fell around 1 percent.
Market Analysis
Sensex, Nifty Open Higher As IT Stocks Surge
2024-07-26 04:21:14
