Indian shares opened on a strong note Monday as investors reacted to positive earnings updates and the U.S. announcement that it would remove bottlenecks in the export of raw materials essential for the production of vaccines in India.
The benchmark S&P BSE Sensex soared 612 points, or 1.3 percent, to 48,490 in early trade, while the broader NSE Nifty index was up 162 points, or 1.1 percent, at 14,503.
ICICI Bank jumped 4.5 percent and Indiabulls Real Estate rallied 3.5 percent on reporting upbeat quarterly earnings.
Reliance Industries advanced 1.5 percent after it announced commencement of production from the Satellite Cluster gas field in block KG D6 off the east coast.
ONGC climbed 2.5 percent on reports the petroleum ministry has told the company to sell stake in producing oil fields such as to Ratna R-Series to private firms.
HCL Technologies fell over 1 percent on positing disappointing results for the fourth quarter.
Lupin lost over 1 percent and Sun Pharma shed half a percent after recalling different products in the United States.
Tech Mahindra was little changed ahead of its earnings release.
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