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Sensex, Nifty Open Higher On Firm Global Cues

Indian shares opened on a positive note Monday, mirroring positive global cues as a disappointing U.S. employment report added to the case for low interest rates.

The benchmark S&P BSE Sensex climbed 260 points, or half a percent, to 49,464 in early trade, while the broader NSE Nifty index was up 90 points, or 0.6 percent, at 14,913.

IDFC First Bank was down 0.7 percent despite reporting a 78 percent jump in its Q4 net profit.

Bandhan Bank fell 2.5 percent after reporting an 80 percent dip in its March quarter net profit.

Hero MotoCorp edged up slightly. The two-wheeler manufacturer has decided to extend production shutdown across its facilities till May 16.

Cadila Healthcare advanced 1.3 percent. The company said it plans to submit trial data for its COVID-19 vaccine by end of May and is looking for an approval in June.
Tata Motors added 1.5 percent after increasing its passenger vehicle prices.

UltraTech Cement dropped 1.3 percent after reporting a 45.2 percent decline in consolidated net profit for the fourth quarter ended March.

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