Sensex, Nifty Marginally Higher In Early Trade

Indian shares were little changed in early trade on Monday as the dollar and bond yields climbed in international markets after the release of impressive U.S. labour market data and comments from Federal Reserve Chair Jerome Powell that the U.S. central bank will proceed carefully with interest-rate cuts.

The benchmark S&P BSE Sensex was up 90 points at 72,139, with encouraging earnings results providing some support. The broader NSE Nifty index was up 39 points at 21,893.

Tata Motors soared 7 percent on reporting 137 percent growth in the December quarter consolidated net profit.

InterGlobe Aviation jumped nearly 5 percent after its third-quarter profit more than doubled.

JSW Infrastructure rose about 1 percent after its quarterly consolidated net profit more than doubled year-on-year.

Tata Steel climbed 1.4 percent after it proposed an additional financial ‘support package’ of around 130 million pounds for the workers who would be affected as part of its transition plan in the United Kingdom.

Zee Entertainment Enterprises rallied 1.7 percent after the Emergency Arbitrator denied Sony’s application against the company in the Singapore International Arbitration Centre.

Paytm plunged 10 percent to extend last week’s heavy losses.

The company has refuted reports claiming that it may face an investigation from the Enforcement Directorate (ED) on charges of money laundering by Paytm Payments Bank.
SBI was marginally lower after the state-run lender reported Q3 profit that came in below estimates.

Bharti Airtel was little changed ahead of its Q3 earnings release.

For comments and feedback contact: editorial@rttnews.com