Sensex, Nifty Open Higher; Metal Stocks And Financials Outperform

(RTTNews) - Indian shares were sharply higher in early trade on Monday after data showed the Fed's preferred reading on consumer price inflation rose less than expected in November, helping ease worries about the outlook for U.S. interest rates.

The benchmark S&P/BSE Sensex jumped 493 points, or 0.6 percent, to 78,534 while the broader NSE Nifty index was up 136 points, or 0.6 percent, at 23,723.

Financials and metals stocks topped the gainers list, with Hindalco, Tata Steel, HDFC Bank, Shriram Finance and JSW Steel rising 1-2 percent.

UltraTech Cement dropped half a percent after the Competition Commission of India after its acquisition of India Cements.

AGI Greenpac tumbled 3.1 percent on fund raising reports.

Brightcom Group soared 5 percent. In an update, the company has outlined the next steps for revocation of its trading suspension.

Indian Oil Corporation edged up slightly after its board approved an investment of Rs 4,382-crore in its Odisha yarn project.

Vedanta was little changed after announcing revisions to its previously proposed demerger scheme.