The Indian stock market opened on a firm note Monday morning, tracking positive global cues.
The BSE benchmark Sensex, which rose to 29,526.19, is now up 135.40 points or 0.47% at 29,500.70. The Nifty50 of the National Stock Exchange is up 43 points or 0.47% at 9162.40.
In the forex market, the rupee opened at 64.55 against the U.S. dollar, up 6 paise from Friday's close of 64.61.
HDFC Bank, which on Friday reported a sharp jump in net profit for the quarter ended March 2017, is extending its gains this morning, trading 2.3% up from its previous closing price.
Adani Ports is gaining 2.1%. Larsen & Toubro is up nearly 2%. Reliance Industries is trading 1.1% ahead of results. HDFC, ONGC, State Bank of India, Tata Motors, Asian Paints, Mahindra & Mahindra, GAIL India and Coal India are modestly higher.
Lupin is declining 1.8%. Infosys, Sun Pharmaceutical Industries, Cipla, Bharti Airtel, ITC, Tata Steel and Wipro are down 0.4% - 1%.
Indian Oil Corporation, Aurobindo Pharma, Zee Entertainment Enterprises, Bharti Infratel, Tata Motors DVR and Eicher Motors are also weak.
Cement stocks are up sharply. ACC is gainng 4.3%, Grasim Industries is adding 4.1%, Ambuja Cements is up 2.5% and UltraTech Cement is rising 2.1%. India Cements is up 7.3%.
Indiabulls Housing Finance, Bank of Baroda and Tata Power are up 1.5% - 2%. Yes Bank, HCL Technologies, Bosch and IndusInd Bank are up marginally.
Indiabulls Real Estate is up 10% on strong volumes. The stock tops the turnover chart, clocking over Rs 393 crore. More than 25 million shares have changed hands so far at the Indiabulls Real Estate counter on the National Stock Exchange this morning. HDIL (up 3.3%) and DLF (up 2.1%) have also risen sharply on huge volumes.
