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Nifty above 10,850 mark; Bharti Airtel down 1%

Equity indices started the session on a marginally positive note tracking most Asian markets and led by gains in shares of fast moving consumer goods companies and private sector banks.

At 10:26 AM, the BSE Sensex was trading at 35,431, up 166 points, while the broader Nifty50 index was ruling at 10,854, up 38 points.

The Nifty FMCG index rose 0.5% and were the top performing sectoral index in early trade led by near 1% gains each in shares of ITC and Hindustan Unilever. ITC is scheduled to detail its Oct-Dec earnings today.

Private banking stocks were also among the top gainers with those of Yes Bank up 1.8%.

Shares of HCL Technologies rose 0.4% after the company retained its full fiscal year revenue and margin growth guidance.

Shares of Bharti Airtel fell 1% and were the worst hit on Nifty50 as the company reported an 11% on-quarter fall in its consolidated net profit.

Shares of automakers, media companies and realtors were the weakest in early trade.

The BSE Mid-cap and BSE Small-cap indices are trading marginally higher by 0.35%, respectively.

Volatility index India VIX down 0.44% at 13.8975.

Adani ports (+2.3%), Indiabulls HF (+1.5%), Yes Bank (+1.4%), SBI (+1%) and RIL (+1.03%) were the top gainers on Nifty50.

GAIL (-1.7%ee (-1.4%)), UltraTech Infosys(-1.5%), Z, (-1.2%) and Airtel (-1%) were the top losers in today’s trade.

Out of 2,002 stocks traded on the NSE, 779 advanced, 817 declined and 406 remained unchanged today.

A total of 15 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.