Sensex, Nifty Extend Gains On Earnings
Indian shares closed Thursday's session notably higher despite weak cues from global markets, following disappointing forecasts from Facebook and Instagram parent Meta Platforms.
The benchmark S&P BSE Sensex surged 486.50 points, or 0.66 percent, to 74,339.44, extending gains for the fifth straight session on the back of a raft of encouraging earnings reports from domestic companies.
The broader NSE Nifty index settled 167.95 points, or 0.75 percent, higher at 22,570.35.
Axis Bank jumped a little over 6 percent on the back of analyst upgrades after Q4 results topped forecasts.
PSU rival SBI followed suit with a percent rally.
Dr Reddy's Laboratories also gained 5 percent and Nestle added 2.5 percent after they announced a joint venture for nutraceutical brands in India.
On the losing side, Kotak Mahindra Bank slumped 10.7 percent after the RBI barred the bank from taking on new customers through its online as well as mobile banking channels and issuing fresh credit cards.
SBI Life, Titan Company, Hindustan Unilever and LTIMindTree dropped 1-2 percent.
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