Sensex, Nifty edged higher in early trade led by Asian stock’s firmness and the GST council in its last meet slashed the tax rate on 54 services and 29 items together easing the return filing process for businesses boosted sentiment. Q3 earnings heavy weight companies like HDFC Bank, ITC Ltd, Reliance Industries and Wirpro are also under focus.
The BSE Sensex was trading at 35,384.30, up 124 points, while the broader Nifty 50 index was ruling at 10,843, up 25 points in later morning hours.
HDFC Bank, HCL Technologies, Reliance Industries Ltd, ITC Ltd, and Wipro Ltd are among the major companies that will be unveiling their Q3 results on Friday.
Major contributors to Sensex gain include Reliance Industries Limited, HDFC, Adani Ports, ITC Ltd, SBI and Larsen and Toubro.
Shares of HCL Technologies rose 0.4 percent after the company retained its full fiscal year revenue and margin growth guidance.
Private banking stocks were also among the major gainers with those of Yes Bank up 1.8 percent.
Bharti Airtel Ltd shares fell 1% and were the worst hit on Nifty50 index, since the company reported an 11 pct on-quarter decline in its consolidated net profit.