Topics
SensexNifty
India’s benchmark Sensex hit a fresh record high on Wednesday led by gains in Reliance Industries Ltd and Bharti Airtel Ltd. A surge in shares of Vodafone Idea Ltd also boosted market sentiment.
At 10.05am, Sensex was up 0.6% at 40754.49 points, while the Nifty rose 0.6% to 12014.50 points.
Reliance Industries Ltd (RIL) gained nearly 4% to hit a fresh record high after the company said its telecom subsidiary--Reliance Jio Infocomm--will raise tariffs in the next few weeks. The stock has gained nearly 7% in the last two sessions.
Bharti Airtel extended its rally and surged 2.5%. The scrip has advanced 23% in the last four sessions after the company reported better than expected revenue from operations. The company also announced plans to hike mobile call and data tariffs from 1 December. Rival Vodafone Idea gained 10%, with the stock having surged 124% in the last four session.
Yes Bank pared losses and was down 0.5%, having opened nearly 3% lower. Yes Bank on Tuesday said the Reserve Bank of India has found that the lender has under-reported bad loans by ₹3,277 crore in the year ended 31 March.
Shares of public sector banks such as Oriental Bank of Commerce, UCO Bank, and Corporation Bank have continued their rally since the Supreme Court judgement on Essar Steel resolution in favor of financial creditors on Friday. In the last three sessions, UCO Bank has surged 43%, Oriental Bank of Commerce has gained 24%, and Corporation Bank soared 80%.
IIFL Securities said some more consolidation is likely as Nifty nears 12000 with select rotation of sectors on the cards. Mid caps will continue to be the outperformers as smart money chases delta.
Topics
SensexNifty
India’s benchmark Sensex hit a fresh record high on Wednesday led by gains in Reliance Industries Ltd and Bharti Airtel Ltd. A surge in shares of Vodafone Idea Ltd also boosted market sentiment.
At 10.05am, Sensex was up 0.6% at 40754.49 points, while the Nifty rose 0.6% to 12014.50 points.
Reliance Industries Ltd (RIL) gained nearly 4% to hit a fresh record high after the company said its telecom subsidiary--Reliance Jio Infocomm--will raise tariffs in the next few weeks. The stock has gained nearly 7% in the last two sessions.
Bharti Airtel extended its rally and surged 2.5%. The scrip has advanced 23% in the last four sessions after the company reported better than expected revenue from operations. The company also announced plans to hike mobile call and data tariffs from 1 December. Rival Vodafone Idea gained 10%, with the stock having surged 124% in the last four session.
Yes Bank pared losses and was down 0.5%, having opened nearly 3% lower. Yes Bank on Tuesday said the Reserve Bank of India has found that the lender has under-reported bad loans by ₹3,277 crore in the year ended 31 March.
Shares of public sector banks such as Oriental Bank of Commerce, UCO Bank, and Corporation Bank have continued their rally since the Supreme Court judgement on Essar Steel resolution in favor of financial creditors on Friday. In the last three sessions, UCO Bank has surged 43%, Oriental Bank of Commerce has gained 24%, and Corporation Bank soared 80%.
IIFL Securities said some more consolidation is likely as Nifty nears 12000 with select rotation of sectors on the cards. Mid caps will continue to be the outperformers as smart money chases delta.
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