Sensex opens 554 points higher; IndusInd Bank and SBI among top gainers
On Monday Sensex opened 1.6% (554 points) higher at 34,841.17 while Nifty added 184 points or nearly 2% to open at 10,326.75. The Indian stocks, on Friday, closed on a positive note settling at 34,287.24.
IndusInd Bank that surged over 9% was the top gainer. The other major gainers included the State Bank of India rising 5.3%, while Axis Bank, ICICI and Bajaj Finance, surged between 4-7% and Reliance Industries rose to a 52-week high (2.32%), a day after declaring that Abu Dhabi Investment Authority will buy 1.16% of its digital unit Jio Platforms for Rs 56.83 billion.
Also, Yes Bank was up by 8.5% and has been reaffirmed BBB status by credit rating company CRISIL.
However, Sun Pharma, Nestle India and Bharti Airtel lagged behind during the day.
Also, Aditya Birla Capital reported a 44.2% decline in its consolidated net profit to Rs 144 crore in the fourth quarter of the Financial Year that ended on March 2020. Similarly, Karnataka Bank reported a 56% decline in net profit for March quarter at 27.31 crore and Fast-moving consumer goods (FMCG) Jyothy Labs had posted a net profit of Rs 66.83 crore in the January-March quarter of the last fiscal.