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(RTTNews) - Key Indian stock indices Sensex and the Nifty50 are up firmly in positive territory Monday morning, tracking Wall Street's notable upmove on Friday, and reacting to earnings reports and other corporate news.
Investors are also tracking state election results across Assam, Kerala, Puducherry, Tamil Nadu, and West Bengal.
Automobile, bank, metal, pharma, realty and FMCG stocks are up with strong gains. Technology stocks are turning in a mixed performance.
BSE's Sensex, which surged to 77,910.75 after opening with a positive gap of nearly 250 points at 77,257.27, was up 732.85 points or 0.96% at 77,646.35 a little while ago.
The National Stock Exchange's Nifty50, which climbed to 24,290.20 after opening at 24,063.55, was up 214.65 points or 0.89% at 24,212.20.
Shares of carmaker Maruti Suzuki are up 4.5% after the company reported a 33.3% jump in sales in the month of April.
Bajaj Auto is gaining about 4.5% on a strong 13% jump in domestic sales in the month of April. Exports grew as much as 83% in the month.
Hind Unilever is rising more than 4%. Shriram Finance, Bajaj Finance, Larsen & Toubro, Tata Consumer Products, Apollo Hospitals Enterprises, Asian Paints, Grasim Industries, Tata Steel and HDFC Bank are up 1.5%-3.2%.
Vodafone Idea is rising more than 5%, lifted by reports that the Department of Telecommunications has reduced the company's adjusted gross revenue dues by nearly Rs 24,000 crore to about Rs 64,000 crore, a sharp reduction from the earlier figure of close to Rs 88,000 crore.
Kotak Mahindra Bank is down by about 2% despite reporting a 13.4% increase in standalone income in the fourth quarter.
ONGC, Bharti Airtel, Dr Reddy's Laboratories and Tata Consultancy Services are down 1%-2%.
The market breadth is very strong. On BSE, 2,690 stocks are up in positive territory. 1,202 stocks are weak, while 257 stocks are little changed from previous closing levels.
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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