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Nifty above 10,750 mark; Asian Paints, Mphasis stocks lead

Equity benchmark indices were trading in the positive zone. Today’s gain was led by media, metal, FMCG and IT stocks. Equity benchmark indices were trading higher led by Asian Paints, ICICI Bank, HDFC, Infosys and L&T.

At 10:41 AM, the BSE Sensex was trading at 35,349, up 103 points, while the Nifty50 index was trading at 10,753, up 36 points.

Shares of Bharti Airtel and Idea Cellular fell after Reliance Jio launched post-paid plan with monthly rental of Rs199, and an ISD calling service at a starting price of 50 paise per minute.

Shares of Fortis fell over 2% after its board said it will recommend the offer proposed by the Munjal and the Burman family offices for the healthcare chain’s hospital and diagnostics businesses.

Shares of PC Jeweller gained 4.5% after the board approved buyback of 1.21cr paid-up equity shares. Board has approved buyback at Rs350 per share amounting to Rs424cr. The above shares comprise of 3.07% of the total paid-up equity capital of the Company.

On the other hand, the stock of Asian Paints was the lead gainers on BSE Sensex on Friday.

The BSE Midcap and the BSE Smallcap indices were up 0.12% and 0.03%, respectively.

Volatility index India VIX gained 1.88% to 14.6975

Asian Paints (+4.4%), HPCL (+2.5%), IOC (+2.4%), BPCL (+1.5%) and Coal India were the top gainers on Nifty50.

Bharti Airtel (-4.4%), Sun Pharma (-2.3%), Hindalco (-0.87%), Lupin (-0.87%) and Bajaj Auto (-0.80%) were the top losers in today’s trade.

Out of 2,027 stocks traded on the NSE, 674 advanced, 876 declined and 477 remained unchanged today.

A total of nine stocks registered a fresh 52-week high in trade today, while 90 stocks touched a new 52-week low on the NSE.

The Indian rupee gained in the early trade on Friday. It has opened higher by 16 paise at 67.15 per dollar versus 67.31 yesterday.

Asian markets opened firmly in the green as US Dollar tumbles, which saw currencies across the board gain ground.

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