BENGALURU: Indian shares opened higher on Monday, tracking a rebound in Asian peers, led by gains in financial stocks, while supply worries lifted metals stocks.
The NSE Nifty 50 was up 0.44% at 22,243.35 as of 9:31 a.m. IST, while the S&P BSE Sensex gained 0.37% to 73,368.73.
Financial servies, the highest weighted of the 13 major sectors, rose 0.5%, while metal stocks rose 1%.
HDFC Bank , the top private lender by market capitalisation and the heaviest Nifty 50 stock, gained 1.7% at the open. However, it reversed gains to trade 0.6% lower.
Middle East worries weigh down Indian shares; Infosys drags IT stocks
The lender reported a smaller-than-expected March quarter profit due to higher provisions, even as its core lending margins held steady.
Asian shares rebounded on Monday, gaining 0.7%, after dropping falling 3.7% last week, as worries over geopolitical tensions in the Middle East and elevated bets of delays in U.S. rate cuts weighed on risk sentiment.
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