India, May 6 -- Indian shares opened on a positive note Monday as disappointing U.S. jobs and services sector data raised hopes that the Federal Reserve could start cutting interest rates soon.
The benchmark S&P BSE Sensex inched up 457 points, or 0.6 percent, to 74,337 in early trade while the broader NSE Nifty index was up 110 points, or half a percent, at 22,586.
Kotak Mahindra Bank rallied 3.7 percent after the private sector bank reported an 18 percent increase in Q4 net profit on healthy loan growth.
IDBI Bank rose over 2 percent after quarterly profit jumped 44 percent year-on-year.
Mahindra & Mahindra Financial Services advanced 1.7 percent as it reported a 10 percent decline in Q4 standalone profit and tax.
BirlaCorp surged 4....