Indian shares began Thursday on a positive trend, buoyed by Federal Reserve Chair Jerome Powell's dovish comments regarding potential interest-rate cuts.
The benchmark S&P BSE Sensex increased by 260 points, or 0.3%, reaching 82,003. Meanwhile, the broader NSE Nifty index rose by 98 points, or 0.4%, to 25,049.
Maruti Suzuki India surged by 3.3% following a 47% rise in its Q1 net profit. Similarly, Coal India saw a 2.9% increase as it reported a 4% growth in Q1 profit, aligning with market expectations.
Tata Steel advanced by 1.3% after announcing a 51% increase in its quarterly profit. ONGC gained 1.5%, Reliance Industries climbed by 0.5%, and GAIL India saw a slight uptick. These movements came after the government reduced the windfall tax on domestically produced crude oil from Rs 7,000 per ton to Rs 4,600 per ton.
Aster DM Healthcare saw an impressive rise of 5%, driven by an 81% year-on-year jump in Q1 net profit.
Conversely, BHEL dipped by 0.5%, Mahindra & Mahindra dropped by 1.2%, and Ambuja Cements declined by more than 1%, all due to underwhelming quarterly results.
Adani Power fell by 1.4% as its Q1 profit decreased by 55% compared to the previous year.
