scorecardresearchSensex rallies 1,087.14 points to 58,322.47 in early trade; Nifty climbs

Sensex rallies 1,087.14 points to 58,322.47 in early trade; Nifty climbs 317.3 points to 17,331.65

Updated: 14 Oct 2022, 09:54 AM IST
TL;DR.

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

Mumbai: The stock market index on a display screen at the Bombay Stock Exchange (BSE) building in Mumbai, Friday, July 5, 2019.  After touching the 40,000-mark in morning trade, the BSE Sensex turned choppy after Finance Minster Nirmala Sitharaman rose to present her maiden Budget. (PTI Photo) (PTI7_5_2019_000223B)(PTI7_5_2019_000256B)

Mumbai: The stock market index on a display screen at the Bombay Stock Exchange (BSE) building in Mumbai, Friday, July 5, 2019. After touching the 40,000-mark in morning trade, the BSE Sensex turned choppy after Finance Minster Nirmala Sitharaman rose to present her maiden Budget. (PTI Photo) (PTI7_5_2019_000223B)(PTI7_5_2019_000256B)

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

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.

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.

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, 09:45 AM IST