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BENGALURU: Indian shares opened higher on Tuesday after financials sparked a sharp rise in the previous session amid a rush of corporate earnings heading into key macroeconomic data.
The Nifty 50 was up 0.17% at 18,296.10 as of 9:32 a.m. IST, while the S&P BSE Sensex rose 0.18%.
Ten of the the 13 major sectoral indexes logged gains with high weightage financials adding 0.3%.
Among individual stocks, shares of Kansai Nerolac Paints jumped over 8% after reporting a rise in March quarter profit.
Mahanagar Gas Ltd added over 6% after posting an upbeat profit after tax in the March quarter.
Indian shares logged their best session in a little over a month on Monday. The benchmark Nifty 50 has risen 5.21% so far this year.
“The recent rally has been triggered by a reasonably stable results season, barring a few sectors like information technology and consumer durables as well as the return of foreign investors,” said George Thomas, fund manager for equity at Quantum Asset Management Company.
The Nifty 50 was up 0.17% at 18,296.10 as of 9:32 a.m. IST, while the S&P BSE Sensex rose 0.18%.
Ten of the the 13 major sectoral indexes logged gains with high weightage financials adding 0.3%.
Among individual stocks, shares of Kansai Nerolac Paints jumped over 8% after reporting a rise in March quarter profit.
Mahanagar Gas Ltd added over 6% after posting an upbeat profit after tax in the March quarter.
Indian shares logged their best session in a little over a month on Monday. The benchmark Nifty 50 has risen 5.21% so far this year.
“The recent rally has been triggered by a reasonably stable results season, barring a few sectors like information technology and consumer durables as well as the return of foreign investors,” said George Thomas, fund manager for equity at Quantum Asset Management Company.
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