Sensex, Nifty Rally On Firm Global Cues
(RTTNews) - Indian shares were sharply higher in early trade on Friday as the latest weekly jobless claims data came in below forecasts, boosting investors' confidence in the U.S. economy.
The benchmark S&P/BSE Sensex jumped 830 points, or 1.1 percent, to 79,715 while the broader NSE Nifty index was up 240 points, or 1 percent, at 24,358.
Eicher Motors surged 4.2 percent on reporting a 20 percent rise in Q1 net profit. Tata Motors, Grasim, Mahindra & Mahindra and ONGC surged 2-3 percent.
LIC gained 1 percent as it posted 9 percent growth in quarterly net profit.
ABB India rallied 3.4 percent after quarterly profit jumped 50 percent year-on-year. Sobha climbed 2.3 percent despite Q1 consolidated net profit falling 50 percent on low revenue.
Vedanta advanced 1.2 percent after reportedly putting a plan to sell its steel business on hold.
SAIL declined 1.5 percent and Rail Vikas Nigam tumbled 3.6 percent after posting disappointing quarterly results.
IRCON International dropped 1.1 percent on reporting lower revenue in the first quarter.
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