Opening bell: Sensex up 200 points at over 60,000, Nifty above 17,600

Barring information technology (IT), all the other 12 major sectoral indexes advanced.

Updated on: Apr 11, 2023, 09:48:41 IST

Reuters | By HT News Desk

Prefer HTon Google

Share via

Copy link

Indian shares opened higher on Tuesday, aided by lenders on strong quarterly updates, ahead of corporate earnings for the March quarter.

Benchmark indices will continue to remain muted at the start on Tuesday as SGX Nifty is trading in the flat-to-green zone. (ANI File Photo )

The Nifty 50 rose 0.45% at 17,705.55, as of 9:35 a.m. IST, while the S&P BSE Sensex rose 0.44% to 60,107.25.

Barring information technology (IT), all the other 12 major sectoral indexes advanced.

The public sector bank index rose 2.5%, aided by a 4% uptick in shares of state-owned lender Bank of Baroda Ltd, while financials gained 0.7%.

Several global brokerages reiterated "buy" on Bank of Baroda, after the lender saw a 19% YoY rise in total advances for the March quarter.

Shares of Shilpa Medicare surged over 10% after the pharma firm received U.S. FDA approval for drug to treat adult patients with active psoriatic arthritis.

The Nifty has risen nearly 4% over the past six sessions. Corporate earnings, scheduled from Tuesday, will be the near-term trigger for markets, according to analysts.

Casino gaming firm Delta Corp Ltd will report its Q4 earnings on Tuesday, followed by top information technology firm Tata Consultancy Services Ltd on Wednesday.

J.P. Morgan recently said that TCS and Infosys Ltd have highest exposure to regional banks in the United States that are gripped under financial turmoil.

The two companies, and smaller rival LTIMindtree Ltd, might need to set aside provisions in the fourth quarter, according to J.P. Morgan.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Sensex

Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator