Markets

Sensex Up 235 Points; Nifty At 10,800

(RTTNews) - Indian shares opened on a positive note Friday, with earnings optimism and positive cues from other Asian markets helping underpin investor sentiment.

The benchmark S&P BSE Sensex rose 235 points, or 0.65 percent, to 36,707 in early trade, while the broader NSE Nifty index was up 60 points, or 0.56 percent, at 10,800.

JSW Steel, Infratel, ONGC and Tata Steel rallied 2-3 percent, while Dr Reddy's Laboratories, Infosys, TCS and Wipro dropped around 1 percent.

Reliance Industries rose 0.6 percent on reports that talks over the sale of a 20 percent stake in the company's oil-to-chemical business to Saudi Aramco have stalled over price.

L&T Finance Holdings advanced 1.8 percent despite reporting a 73 percent fall in Q1 profit.

PTC India rallied 3.3 percent on news it has revived plans to sell controlling stake in its financial services arm.

Tata Power Company climbed 2.1 percent. Its subsidiary Tata Power Green Energy has received a letter of award to develop a 225 MW hybrid renewable power project.

ICICI Lombard, Granules India, Hathway Cable, HCL Technologies and Britannia Industries were moving higher ahead of their quarterly earnings due later in the day. GAIL gained 1.8 percent and Oil India rose over 1 percent as the Department of Telecommunications withdrew a demand of over Rs 2.3 lakh crore it had made on the state-owned companies in past telecom dues.

Marico added 0.8 percent after its board approved the scheme of amalgamation of Marico Consumer Care with the company.

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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