India Stocks: Indian shares open higher, led by HDFC Bank, Axis Bank
INDIA STOCKS-Indian shares open higher, led by HDFC Bank, Axis Bank Updates for markets open
July 6 (Reuters) - Indian shares opened higher on Monday, led by HDFC Bank and Axis Bank on strong pre-quarterly business updates, while lower crude oil prices also aided sentiment.
The benchmark Nifty 50 .NSEI rose 0.35% to 24,354.80, while the BSE Sensex .BSESN added 0.39% to 78,065.23, as of 9:20 a.m. IST.
Fourteen of the 16 major sector logged gains at the open. High-weight banks .NSEBANK and financials .NIFTYFIN rose 0.5% each, led by 2% rise in private lenders HDFC Bank HDBK.NS and Axis Bank AXBK.NS.
Over the weekend, HDFC Bank reported a 15.4% increase in gross advances during the June quarter, with period-end deposits rising 14.7%, while Axis Bank reported an 18.8% growth in gross advances.
(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Ronojoy Mazumdar)