scorecardresearchBajaj Auto gains 1% as street awaits quarterly results later today

Bajaj Auto gains 1% as street awaits quarterly results later today

Updated: 14 Oct 2022, 10:36 AM IST
TL;DR.

The NSE Nifty 50 index was 1.77% higher at 17,315.60 as of 0350 GMT, and the S&P BSE Sensex climbed 1.86% to 58,297.87.

Indian businessman and the managing director of Bajaj Auto, Rajiv Bajaj attends a book reading and introspection session from his book 'Open House' in Mumbai on May 23, 2022. (Photo by Sujit JAISWAL / AFP)

Indian businessman and the managing director of Bajaj Auto, Rajiv Bajaj attends a book reading and introspection session from his book 'Open House' in Mumbai on May 23, 2022. (Photo by Sujit JAISWAL / AFP)

(Reuters) - Indian shares were higher in early trades on Friday, led by gains in IT giant Infosys, bank stocks and strength in broader Asia.

Two- and three-wheeler maker Bajaj Auto, a Nifty- 50 component, was 1% higher ahead of its quarterly earnings results later in the day.

Nifty's auto index was 1.28% higher.

The NSE Nifty 50 index was 1.77% higher at 17,315.60 as of 0350 GMT, and the S&P BSE Sensex climbed 1.86% to 58,297.87.

Both the indexes had closed down over 0.6% in the previous session.

In early trades, Infosys Ltd climbed as much as 4.6% and was the top boost to the Nifty 50 index.

The country's No.2 IT services company reported a bigger-than-expected increase in second-quarter profit, boosted by strong margin growth.

Nifty's IT, private sector bank and public sector bank indexes were up over 2% each.

Asian shares climbed on Friday following Wall Street, although gains could be shortlived over recession worries after surging U.S. inflation increased likelihood of higher interest rates for longer. 

First Published: 14 Oct 2022, 10:36 AM IST