Sensex, Nifty Rally On Global Cues; IT And Auto Stocks Lead Gains
(RTTNews) - Indian shares opened on a positive note Monday, mirroring firm global cues as investors awaited this week's Federal Reserve meeting for clues on whether a pivot on the pace of rate hikes is on the table.
The benchmark S&P BSE Sensex jumped 604 points, or 1 percent, to 60,564 in early trade, while the broader NSE Nifty index was up 182 points, or 1 percent, at 17,969.
IT and auto stocks topped the gainers list, with Infosys, Eicher Motors, Mahindra & Mahindra, Maruti Suzuki India and Tech Mahindra all rising around 2 percent.
Bharti Airtel and Larsen & Toubro were up around 1 percent each ahead of their earnings results.
Maruti Suzuki India rallied 2.2 percent. The carmaker is recalling 9,925 units of its three models, Wagon R, Celerio and Ignis, to rectify a possible defect in a rear brake assembly pin.
IOC was little changed after posting a Rs. 272-crore loss in the September quarter. Vedanta edged down slightly as it reported a 61 percent decline in consolidated net profit for the September quarter on the back of higher expenses.
Dr Reddy's Laboratories added 1.7 percent on posting a 12 percent growth in Q2 consolidated net profit.
Hero MotoCorp rose about 1 percent. The two-wheeler manufacturer said it has registered retail growth of 20 percent year-on-year during the festive period.
Swiss Market Ends Modestly Higher
European Markets Rise As Oil Prices Fall On IEA Demand Cut
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected
U.S. Consumer Prices Increase In Line With Estimates In August
IEA Cuts Oil Demand Forecast; Canadian Markets Eye Recovery
