Sensex, Nifty Up 1 % In Early Trade

(RTTNews) - Indian shares opened sharply higher on Monday, tracking firm cues from other Asian markets and ahead of GDP data for April-June quarter due later in the day.

The benchmark S&P BSE Sensex jumped nearly 400 points, or 1 percent, to 39,863 in early trade, while the broader NSE Nifty index was up 117 points, or 1 percent, at 11,764.

ONGC, Wipro, Tata Motors, Infratel and Adani Ports rallied 2-4 percent, while Bharti Airtel and JSW Steel fell over 1 percent.

Reliance Industries climbed 1.6 percent after it announced the acquisition of businesses of Kishore Biyani's Future Group for Rs. 24,713 crore. Future Retail shares soared 16 percent and Future Enterprises jumped 5 percent.

Wockhardt dropped about 1 percent while Suzlon Energy gained 1.3 percent after unveiling their quarterly results.

JK Cement was marginally higher and Spandana Sphoorty Financial rose over 4 percent ahead of their quarterly earnings results due today.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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