Indian Shares Climb As Financials Surge
Indian shares opened on a bright note Tuesday in the wake of positive cues from global markets.
The benchmark S&P/BSE Sensex inched up 360 points, or 0.6 percent, to 60,475 in early trade, while the broader NSE Nifty index was up 109 points, or 0.6 percent, at 18,045.
Financials led the surge, with Bajaj Finance, HDFC Life, SBI Life and Bajaj FinServ climbing 2-5 percent.
BPCL, HPCL and IOC were flat to slightly lower despite news the government may offer Rs. 20,000 crore lifeline to the companies for absorbing record international crude price.
Vedanta added 1.4 percent after reports that it has selected Gujarat for its semiconductor project.
Ujjivan Small Finance Bank tumbled 2.8 percent after launching its QIP issue.
Tata Consultancy Services edged up slightly. C&S Wholesale Grocers, Inc, has selected the Indian IT giant to build its new operations platform on Google Cloud.
Gujarat Apollo Industries soared 20 percent after it entered into a joint venture agreement with Belgium-based PFH BV.
JSW Steel gained 0.6 percent after reporting a 22 percent year-on-year jump in crude steel production in August.
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