Indian share markets opened positively on Monday, responding to remarks from Federal Reserve Chair Jerome Powell about upcoming policy adjustments.
In early trading, the S&P/BSE Sensex climbed by 572 points, or 0.7%, reaching 81,659, while the NSE Nifty index increased by 157 points, or 0.6%, to 24,980.
ONGC saw a near 2% rise after announcing the commencement of a new well in its flagship deep-sea project in the Krishna Godavari basin of the Bay of Bengal. Reliance Industries experienced a 0.8% uptick ahead of its Annual General Meeting next week. Jio Financial Services gained close to 1% following approval to increase its foreign investment cap to 49%.
Alembic Pharma surged 2.3% upon receiving final approval from the FDA for its Abbreviated New Drug Application (ANDA) for Betamethasone Valerate Foam. Ashoka Buildcon advanced 1.8% as it was identified as the lowest bidder for a project by the Mumbai Metropolitan Region Development Authority.
Companies owned by Anil Ambani continued to decline after the Securities and Exchange Board of India (SEBI) imposed a five-year ban on him and 24 others. Consequently, shares of Reliance Power and Reliance Home Finance dropped by around 5%.
Transport Corporation of India fell by 6% despite announcing its first-ever buyback of equity shares worth up to Rs. 160 crores.
