Indian shares opened on a positive note Thursday as investors cheered Fed Chair Jerome Powell’s dovish remarks on interest-rate cuts.
The benchmark S&P BSE Sensex was up 260 points, or 0.3 percent, at 82,003 while the broader NSE Nifty index was up 98 points, or 0.4 percent, at 25,049.
Maruti Suzuki India rallied 3.3 percent on reporting a 47 percent jump in Q1 net profit.
Coal India surged 2.9 percent as it reported a 4 percent rise in Q1 profit, matching estimates.
Tata Steel gained 1.3 percent on posting 51 percent growth in quarterly profit.
ONGC climbed 1.5 percent, Reliance Industries rose half a percent and GAIL India edged up slightly after the government cut windfall tax on domestically produced crude oil to Rs 4,600 per ton from previous Rs 7,000 per ton.
Aster DM Healthcare soared 5 percent after Q1 net profit jumped 81 percent year-on-year.
BHEL slipped half a percent, Mahindra & Mahindra fell 1.2 percent and Ambuja Cements declined more than 1 percent on disappointing results.
Adani Power gave up 1.4 percent as Q1 profit fell 55 percent from last year.
Market Analysis
Sensex, Nifty Modestly Higher In Early Trade
2024-08-01 04:33:20
