Indian shares opened higher on Friday, mirroring positive global cues after overnight data signaled improvement in the U.S. labor market.
The benchmark S&P BSE Sensex jumped 290 points, or 0.6 percent, to 49,853 in early trade, while the broader NSE Nifty index was up 88 points, or 0.6 percent, at 14,994.
State Bank of India, Hindalco Industries, JSW Steel and Shree Cement were moving higher before unveiling their earnings results.
Zee Entertainment Enterprises surged 3.4 percent. The company reported consolidated profit at Rs 275.8 crore for the March 2021 quarter, compared with a loss of Rs 766.7 crore in the same quarter last year.
Hindustan Petroleum Corporation jumped more the 6 percent. The oil firm’s March quarter net profit surged multifold to Rs 3,018 crore on the back of inventory gains and rise in refining margins.
Bosch tumbled 4.3 percent. The engineering and technology company said that the shortage of chips will impact the car market and it could remain tight till 2022.
Den Networks rose over 1 percent after Broad Street Investments (Singapore) sold 25.10 lakh equity shares in the company via bulk deals on the NSE.
Union Bank rose about 1 percent after the lender raised Rs 1,447 crore through a qualified institutions placement.
Apollo Tyres gained half a percent. The firm has received nod to re-start operations at its manufacturing plant at Perambra in Kerala from May 21.
Market Analysis
Sensex, Nifty Follow Global Peers Higher
2021-05-21 04:01:52
