scorecardresearchMarket Open: Sensex plunges 714.66 points to 59,856.42 in early trade;

Market Open: Sensex plunges 714.66 points to 59,856.42 in early trade; Nifty falls 198.55 points to 17,871.50

Updated: 13 Sep 2022, 09:15 AM IST
TL;DR.

  • The NSE Nifty 50 index was up 0.53% at 18,031.55, as of 0346 GMT, while the S&P BSE Sensex rose 0.51% to 60,424.12.

FILE PHOTO: A man speaks on his mobile phone past a new brand identity for Nifty Indices inside the National Stock Exchange (NSE) building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas

FILE PHOTO: A man speaks on his mobile phone past a new brand identity for Nifty Indices inside the National Stock Exchange (NSE) building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas

(Reuters) - Indian shares climbed to a five-month high on Tuesday, lifted by sharp gains in Bajaj Finserv and HDFC Life Insurance, as investors looked past faster-than-expected inflation print.

The NSE Nifty 50 index was up 0.53% at 18,031.55, as of 0346 GMT, while the S&P BSE Sensex rose 0.51% to 60,424.12.

Bajaj Finserv, a holding company for financial services businesses, surged 6.3% ahead of the record date for a stock split and bonus issue of shares.

HDFC Life Insurance Company jumped 4.7% to its highest since June 9. Reuters reported on Tuesday that British asset manager abrdn plc would sell a stake in HDFC Life through a block trade on Tuesday.

Meanwhile, data released after market hours on Monday showed India's inflation accelerate to 7% in August, piling more pressure on the central bank to hike interest rates again later this month.

First Published: 13 Sep 2022, 09:15 AM IST