Indian shares opened on a strong note Tuesday as the latest data revealed another dip in daily COVID-19 cases. A firm trend in other Asian markets also offered some support.
The benchmark S&P BSE Sensex climbed 522 points, or 1 percent, to 50,103 in early trade, while the broader NSE Nifty index was up 170 points, or 1.1 percent, at 15,092.
Federal Bank surged 5 percent after reporting a 58 percent jump in its Q4 net profit.
Shares of Reliance Industries rose over 1 percent. Reliance Jio Infocomm has announced that it will set up the largest international submarine cable system centered on India.
HCL Technologies gained half a percent after announcing expansion plans in the U.K.
Tata Motors advanced 1.5 percent and Canara Bank added 0.8 percent ahead of their earnings results, due later in the day.
Bharti Airtel gave up 1.3 percent. The telecom company posted turnaround results for the March quarter but reported a decline in the ARPU figures on a sequential basis.
Orient Cement jumped 5.4 percent after reporting an over two-fold jump in fourth-quarter net profit.
Sensex Soars Over 500 Points; Nifty Nears 15,100
2021-05-18 04:14:17
