The Nifty 50 index was up 0.34% at 18,902.95 at 9:28 am IST, while the S&P BSE Sensex was up 0.38% at 60,861.18.
(Reuters) - Indian shares opened higher on Monday as financial shares rose after some banks reported strong quarterly numbers over the weekend, while Wall Street's rally in the previous session helped broad sentiment.
The Nifty 50 index was up 0.34% at 18,902.95 at 9:28 am IST, while the S&P BSE Sensex was up 0.38% at 60,861.18.
Most major sectoral indices rose, with the high-weighting financial sub index rising more than 0.6%.
Private lenders ICICI Bank and Kotak Mahindra Bank gained over 1% each over the weekend after reporting a rise in net profit and healthy loan growth in the third quarter.
Shares of India's biggest company by market capitalisation, Reliance Industries were volatile after it reported a bigger than expected decline in net profit for the December quarter, after market hours on Friday.
On the flipside, Yes Bank shares declined after it reported an 80% net decline in net profit as provision for bad loans declined in the December quarter.
Of the Nifty 50 constituents, 34 advanced while 16 declined.
Wall Street equities rallied to close higher on Friday as upbeat quarterly earnings helped propel Netflix, while Google parent Alphabet climbed after announcing job cuts.
Most Asian equities were closed on Monday for the Lunar New Year holiday.
No comments:
Post a Comment