Indian Shares Surge In Early Trade; IT Stocks Decline On AI Disruption Fears
(RTTNews) - Indian shares opened on a buoyant note on Friday as investors remained hopeful that the ceasefire between the United States and Iran would hold.
Elsewhere, Ukraine and Russia have agreed to a rare 32-hour ceasefire for Orthodox Easter, with both sides announcing a temporary halt in fighting.
The benchmark BSE Sensex was up 569 points, or 0.7 percent, at 77,200 in early trade, while the broader NSE Nifty index jumped 200 points, or 0.8 percent, to 23,975.
Among the top gainers, Bajaj FinServ, Mahindra & Mahindra, Bajaj Finance, Axis Bank, ICICI Bank and Asian Paints surged 2-4 percent.
Metal stocks such as Tata Steel and JSW Steel traded about 1 percent higher. HDFC Life Insurance rose over 1 percent on fund raising reports.
JSW Energy gained 0.8 percent after announcing it would exercise its option to acquire the remaining 26 percent equity stake in JSW Mahanadi Power Company (JMPCL).
Prestige Estates advanced 1.6 percent after it acquired a 50 percent partnership interest in Aaramnagar Realty LLP.
Tata Consultancy Services tumbled 2.8 percent despite posting solid Q4 results. Peers Infosys, HCL Technologies and Tech Mahindra declined 2-3 percent as fears over disruptions from advances in AI returned to the forefront following a ?recent update from Anthropic.
Sun Pharma slumped 3.6 percent after reports that it is nearing a $12 billion acquisition of Organon & Co.
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