Indian shares rose sharply on Monday despite talk of yet more sanctions against Russia over its invasion of Ukraine and growing expectations for more hawkish monetary tightening plans by the Federal Reserve.
The benchmark S&P BSE Sensex soared 1,112 points, or 1.9 percent, to 60,389 after having climbed over 3 percent in the past five trading sessions. The broader NSE Nifty index was up 309 points, or 1.8 percent, at 17,979.
HDFC soared 11 percent on news the mortgage lender would merge with private sector bank HDFC Bank. Shares of the latter jumped 9 percent.
Group firm HDFC Life surged 5.4 percent while Bajaj Finance and Hero MotoCorp both were up around 1.6 percent.
Infosys fell 1.3 percent on reports the IT major is closing down its operations in Russia.
Tata Motors gained about 1 percent on saying it has delivered 712 electric vehicles on Saturday to individual customers in Maharashtra and Goa.
Iron ore producer NMDC edged up slightly after reporting record production growth in FY22.
TVS Motor Company was little changed after reporting March sales figures.
ONGC fell about 1 percent and Reliance Industries was little changed despite the government raising the gas price paid to producers of oil and regulated fields to record levels.
For comments and feedback contact: firstname.lastname@example.org
All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator
Read more from original source here…