Sensex Rallies over 150 Points
Equity benchmark gained for a fourth time this week led by Airtel, which agreed to merge with Tata’s consumer telecom business, and Reliance Inds ahead of its second quarter earnings.
On the economy front, industrial output expanded to a nine-month high of 4.3% in Aug while the CPI-based inflation rate remained stagnant at 3.28% in Sept.
At 9:38 AM, the S&P BSE Sensex is trading at 31,381 up 200 points, while NSE Nifty is trading at 10,157 up 61 points.
The BSE Mid-cap Index is trading up 0.29% at 16,006, whereas BSE Small-cap Index is trading up 0.54% at 16,995.
Bharti Airtel, Infratel,Yes Bank, Tata Steel and UltraTech are among the gainers, whereas Gail, Hindalco, HUL, BPCL and Dr Reddy’s are losing sheen on BSE.
Some buying activity is seen in metal, banking, IT, auto and pharma sectors, while realty and FMCGare showing weakness on NSE.
The INDIA VIX is down 1.19% at 10.91.
Out of 1,950 stocks traded on the NSE, 429 declined, 1,060 advanced and 461 remained unchanged today.
A total of 40 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.
Bharti Airtel stock zoomed 6%, Tata Teleservices Maharashtra hit 10% upper circuit for the second session, while Tata Comm rose 2% after Tata Sons Ltd said that it will sell its consumer mobile business to India’s largest telecom operator Bharti Airtel Ltd virtually for free, as part of the group chairman’s strategy to exit businesses which have been a prolonged drag and have little visibility of future profits.
Reliance Industries stock rose 1% ahead of its September quarter earnings.
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