Sensex Up 100 Points In Early Trade; Nifty Holds Above 10,300

Indian shares opened modestly higher on Monday and the rupee opened on a flat note at 73.30 per dollar following coordinated pronouncements from three top Chinese financial regulators.

The benchmark 30-share BSE Sensex was up 100 points or 0.29 percent at 34,415 in early trade after falling 1.2 percent last week. The broader Nifty index was up 16 points or 0.16 percent at 10,320.

HDFC Bank, HCL Technologies, Eicher Motors, Bajaj Finance and Indiabulls Housing Finance rallied 2-4 percent while Tech Mahindra, UltraTech, IOC, BPCL and Yes Bank dropped 2-3 percent.

JSW Steel lost around 2 percent on fund raising reports.

Private sector lender HDFC Bank advanced 1.6 percent after reporting a 20.6 percent increase in quarterly net profit.

Jet Airways tumbled 5 percent on reports that the airline is pruning its workforce and operations.

Tata Motors shed 0.6 percent on the buzz that Tata sons has increased its stake in the company.