Indian stocks are up on the back of a tech rebound, and blue-chip earnings are expected.
With a flurry of blue-chip earnings as well as the federal budget in focus, Indian equities opened substantially higher on Monday after two weeks of hefty losses, as shaken technology sectors recovered.
By 0351 GMT, the blue-chip NSE Nifty 50 index (NIFTY) had risen 1.24 percent to 17,313.6, while the S&P BSE Sensex (.BSESN) had risen 1.23 percent to 57,901.39. Each index had lost roughly 3% in the previous week.
On Monday, the Nifty IT index (CNXIT), which had lost in eight of the previous nine sessions due to a tech sell-off fueled by concerns about rising interest rates in the United States, gained as high as 2.5 percent.
Likewise, Larsen & Toubro (LT) fell 2.5 percent after reporting a lower-than-expected quarterly earnings.
Inventive components On Monday, Tata Motors (TATAMOTORS), Indian Oil (IOC), BPCL (BPCL), Sun Pharma (SUNPHARMA), and UPL (UPL) will release their earnings.