Sensex, Nifty Up Over 1% In Early Trade

(RTTNews) - Indian shares opened higher on Tuesday to extend gains for a fifth straight session, with hopes for a coronavirus vaccine and the prospects for U.S. and EU stimulus helping underpin investor sentiment.

The benchmark S&P BSE Sensex rallied 474 points, or 1.27 percent, to 37,893, while the broader NSE Nifty index was up 125 points, or 1.14 percent, at 11,148.

Tata Motors, Kotak Mahindra Bank, Adani Ports, ICICI Bank and Wipro climbed 2-3 percent.

ACC soared 6 percent despite reporting a 41 percent fall in quarterly profit.

Tata Power Company edged up slightly after its arm CGPL raised Rs 350 crore by issuing non-convertible debentures.

InterGlobe Aviation gained 0.7 percent as IndiGo announced it would lay off 10 percent of its workforce.

Britannia Industries was modestly higher. The company plans to invest up to Rs. 1,000 crore to scale up capacity and launch new products.

Bharti Airtel advanced 1.2 percent while Vodafone Idea shares slumped 5 percent after the Supreme Court said there is no scope for any re-assessment of AGR dues.

Axis Bank and Bajaj Finance rose over 1 percent ahead of their quarterly results.

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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