Sensex jumps 200 points, Nifty above 17,650; Kotak Mahindra Bank rises 5%, BoB 3% | Business – Times of India Videos

Indian shares opened higher on Tuesday, aided by lenders on strong quarterly updates, ahead of corporate earnings for the March quarter. Barring information technology (IT), all the other 12 major sectoral indexes advanced. The public sector bank index rose 2.5%, aided by a 4% uptick in shares of state-owned lender Bank of Baroda Ltd , while financials gained 0.7%. Several global brokerages reiterated “buy” on Bank of Baroda, after the lender saw a 19% YoY rise in total advances for the March quarter. Shares of Shilpa Medicare surged over 10% after the pharma firm received U.S. FDA approval for drug to treat adult patients with active psoriatic arthritis.