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Sensex Up 370 Points In Early Trade; Nifty Nears 18,500

Indian shares opened on a positive note Monday as traders returned to their desks after an extended weekend on account of Dussehra.

The benchmark 30-share BSE Sensex rose 370 points, or 0.6 percent, to 61,676 in early trade, while the broader NSE Nifty index was up 133 points, or 0.7 percent, at 18,472.

Commodity-related stocks jumped, with ONGC, Tata Steel, JSW Steel and Hindalco climbing 3-6 percent.

Tata Motors rose 3.8 percent to extend recent gains.

Avenue Supermarts rallied 2.6 percent after it posted a 110 percent jump in quarterly net profit for the quarter ended September.

HCL Technologies dropped nearly 1 percent on reporting a 4 percent year-on-year rise in quarterly consolidated net profit.

HDFC Bank edged up slightly. The private sector lender reported a 17.6 percent jump in net profit for the September quarter.

Tata Consultancy Services rose about half a percent. The country's largest software services company said attrition spiked over 300 basis points to 11.9 percent over the preceding quarter.

Bank of India advanced 1.7 percent after slashing interest rates on home loans and car loans.

UltraTech Cement and L&T Infotech rose over 1 percent ahead of their earnings results.

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