(Reuters) -Indian shares opened higher on Monday as Kotak Mahindra Bank’s results boosted private banks and Wipro’s better-than-expected quarterly profit helped lift IT stocks.
The Nifty 50 rose 0.38% to 23,290.4 points as of 9:16 a.m. IST, while the BSE Sensex added 0.47% to 76,978.53.
The broader, more domestically focussed smallcaps and midcaps rose 0.3% and 0.6%, respectively.
All the 13 major sectors advanced at the open. The private bank index rose 1.1%, while IT stocks rose 0.5%.
Kotak Mahindra Bank jumped 7.5% after reporting a 10% rise in quarterly profit, helped by higher lending income.
Wipro surged 7% after beating third-quarter estimates for revenue and profit.
Kotak and Wipro were the top gainers on Nifty 50.
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips and Savio D’Souza)
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