Sensex, Nifty Modestly Higher As Geopolitical Tensions Fade

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 Indian shares were modestly higher on Monday as tensions in the Korean Peninsula faded after a spectacularly successful inter-Korean summit.

The benchmark BSE Sensex was up 141 points or 0.40 percent at 35,110 in early trade after climbing around 1.6 percent last week to post its fifth straight weekly gain. The broader Nifty index was up 42 points or 0.39 percent at 10,734.

Reliance Industries shares fell over 2 percent. The company posted its second highest quarterly profit for the March quarter even as gross refining margins came in below expectations.

HDFC advanced 1.5 percent and Kotak Mahindra Bank added 1.7 percent ahead of their quarterly earnings due later today.

Fortis Healthcare lost about 1 percent after Hero Enterprise and Burman Family expressed their surprise on the decision to extend the deadline for final bidding.

UPL dropped 2 percent after posting subdued results for the March quarter.

Shree Cement shed 0.8 percent despite reporting a 31 percent rise in Q4 profit.

Equitas was marginally lower despite posting a four-fold jump in its March quarter profit.

Idea Cellular rallied 1.5 percent after narrowing its fourth-quarter net loss.

Axis Bank tumbled 3 percent after the private sector lender received board approval to increase borrowing limit to up to Rs 2 lakh crore.

Wockhardt jumped 3 percent on fund raising reports.

Jagran Prakashan climbed 2.7 percent and PC Jeweler soared 10 percent on share buyback news.