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Indian equity benchmarks rose to their highest level since Feb. 5 powered by strong gains in Reliance Industries, HDFC and ICICI Bank.
The S&P BSE Sensex rose 0.48 percent or 165.87 points to 34,616.64 and the NSE Nifty 50 index advanced 0.28 percent or 29.65 points to 10,614.35.
Twelve out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Energy index's 2.39 percent gain. On the flipside, the S&P BSE Metal index was the top sectoral loser, down 1.8 percent.
The mid- and small-cap shares underperformed their large-cap counterparts as the S&P BSE MidCap and S&P BSE SmallCap indices ended marginally lower.
Fab Four Stocks Of The Day
GATI: The Secunderabad-based cargo distribution and logistics service provider was locked in a 20 percent upper circuit at Rs 120.90. The company will hold board meeting on April 26 to consider inducting new partner to augment future growth.
GNFC: The Gujarat-based fertilizer and chemical maker rose as much as 10.73 percent, the most in over three months, to Rs 475.90 after reporting its March quarter earnings.
Alkem Labs: The Mumbai-based drug maker rose as much as 6.2 percent to Rs 1,945 after Nomura upgraded it to ‘buy’ from ‘neutral’ and raised its target price to Rs 2,089 from Rs 2,298, indicating upside of 17 percent.
KP Energy: The Surat-based wind turbine maker rose as much as 7.9 percent to Rs 326 after it signed a pact with Global WTG unit for 300 MW wind power project in Gujarat.
European Shares Little Changed, Earnings In Focus
Europe’s shares were little changed in early trade as investors assessed earnings from companies including Volvo and Banco Santander, while a slump in aluminum prices continued to rock mining stocks.