Nifty closes above 5000, telecom stocks surge
Thursday, 3 June 2010
MUMBAI, June 2 (Economic Times): Indian markets ended volatile session on a higher note Wednesday led by gains in telecom, auto and realty stocks. Buying activity was also seen in broader markets.
National Stock Exchange's Nifty ended at 5027.90, up 57.70 points or 1.16 per cent. The broader index touched intraday high of 5031.20 and low of 4967.05.
Bombay Stock Exchange's Sensex closed at 16771.31, up 199.28 points or 1.20 per cent. The index touched high of 16774.15 and low of 16571.45.
BSE Midcap Index gained 0.90 per cent and BSE Smallcap Index moved 0.83 per cent higher.
Amongst the sectoral indices, BSE Auto Index was up 1.90 per cent, BSE Realty Index gained 1.73 per cent and BSE IT Index moved 1.45 per cent higher.
Reliance Communications (11.85 per cent), Idea Cellular (9.69 per cent), Bharti Airtel (4.61 per cent), Reliance Infrastructure (4.21 per cent) and Hero Honda (3.62 per cent) were the top Nifty gainers.
Shares of telecom companies were back in action after reports that Reliance Communications may sell stake 25 per cent stake to Etisalat for Rs 180 billion. However, according to media reports Etisalat officials denied any such talks.
There were speculations that Reliance Communications may have begun talks with MTN for a possible merger.
Suzlon Energy (-2.07 per cent), Punjab National Bank (-1.20 per cent), Jindal Steel & Power (-1.19 per cent), Wipro (-1.17 per cent) and ITC (-0.55 per cent) were amongst the losers.
National Stock Exchange's Nifty ended at 5027.90, up 57.70 points or 1.16 per cent. The broader index touched intraday high of 5031.20 and low of 4967.05.
Bombay Stock Exchange's Sensex closed at 16771.31, up 199.28 points or 1.20 per cent. The index touched high of 16774.15 and low of 16571.45.
BSE Midcap Index gained 0.90 per cent and BSE Smallcap Index moved 0.83 per cent higher.
Amongst the sectoral indices, BSE Auto Index was up 1.90 per cent, BSE Realty Index gained 1.73 per cent and BSE IT Index moved 1.45 per cent higher.
Reliance Communications (11.85 per cent), Idea Cellular (9.69 per cent), Bharti Airtel (4.61 per cent), Reliance Infrastructure (4.21 per cent) and Hero Honda (3.62 per cent) were the top Nifty gainers.
Shares of telecom companies were back in action after reports that Reliance Communications may sell stake 25 per cent stake to Etisalat for Rs 180 billion. However, according to media reports Etisalat officials denied any such talks.
There were speculations that Reliance Communications may have begun talks with MTN for a possible merger.
Suzlon Energy (-2.07 per cent), Punjab National Bank (-1.20 per cent), Jindal Steel & Power (-1.19 per cent), Wipro (-1.17 per cent) and ITC (-0.55 per cent) were amongst the losers.