Indian Shares Open Higher With Earnings In Focus
(RTTNews) – Indian shares opened higher on Friday despite weak cues from global markets.
Investors are pinning hopes that an upcoming MSCI index rebalancing, which could add up to 12 stocks, may trigger about $2.3 billion in passive investment flows.
The benchmark BSE Sensex was up 625 points, or 0.8 percent, at 77,812 in early trade while the broader NSE Nifty index surged 162 points, or 0.7 percent, to 24,235.
Reliance Industries advanced 1.4 percent and JSW Steel added 0.7 percent ahead of their Q1 earnings results due later in the day.
Jio Financial Services surged 3.6 percent after Q1 consolidated net profit soared 156 percent year-on-year.
Tech Mahindra rallied 2.7 percent after strong Q1 earnings, with quarterly consolidated profit rising 28.4 percent year-on-year.
Wipro fell more than 2 percent after its first quarter results and guidance for the September quarter came in below expectations.
PhysicsWallah tumbled 3.5 percent after it took majority control of civil services coaching platform Sarrthi IAS.
Ceat plummeted 8.4 percent after Q1 profit slumped 96.4 percent year-on-year on the back of forex losses and rising input costs.
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