Indian shares increase on IT enhance, Mahindra leads gains

A broker trades on his computer terminal at a inventory brokerage agency in Mumbai, India,

A broker trades on his computer terminal at a inventory brokerage agency in Mumbai, India, January 20, 2016. REUTERS/Shailesh Andrade/File Picture

BENGALURU, Aug 9 (Reuters) – Indian shares rose on Monday, boosted by details technologies shares, although automaker Mahindra & Mahindra led gains on the back of submitting a quarterly profit final week.

By 0401 GMT, the blue-chip NSE Nifty 50 index (.NSEI) climbed .39% to 16,300.95 and the benchmark S&P BSE Sensex (.BSESN) rose .39% to 54,487.42.

The Nifty IT index (.NIFTYIT) superior the most among sectoral indexes and was up 1.1% in early trade. The sub-index received 2.7% last 7 days.

Mahindra and Mahindra Ltd (MAHM.NS) shares had been up 2.5%. The corporation claimed a profit for its very first quarter on Friday prior to marketplaces closed, as demand for the Indian automaker’s passenger autos and tractors enhanced. read through a lot more

Industrial machine components maker Rolex Rings (Position.NS) is set to make its market place debut later on in the working day.

Benchmark indexes in the United States closed at document highs on Friday subsequent strong employment data, although broader Asian shares inched lessen early on Monday amid sharp losses in gold and oil prices.

Reporting by Rama Venkat in Bengaluru Editing by Ramakrishnan M.

Our Standards: The Thomson Reuters Believe in Concepts.