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Sensex, Nifty remain firm; Maruti Suzuki stock up 2%

Benchmark indices rose for a fourth straight session after BJP secured victories in two key state elections, raising optimism over future reform initiatives. The Sensex rising more than 100 points, following positive global cues.

Global equity markets rose on the likely passage of the corporate tax cut bill as early as this week.

At 10:39 AM, the BSE Sensex was trading at 33,703, up 101 points, while the Nifty50 was ruling at 10,417, up 28 points.

Shares of Bharti Airtel dropped after the company said it has entered into an agreement with Millicom International Cellular S.A. to acquire 100% stake in the latter’s Rwandan arm Tigo Rwanda.

Shares of De Nora India rose 6% after the company, post market hours on Monday, said it has won orders worth Rs120mn from Bharat Heavy Electricals.

Shares of Kridhan gained 9% after investment fund of the Government of Singapore, GIC, bought 1.2% stake in the company on Monday through a bulk deal on the BSE.

The BSE Midcap Index gained 0.66% and the BSE Smallcap Index rises 0.92%.

Telecom is the top loser on the BSE, while Consumer Durables, Auto, Metal, Industrial, FMCG and Banking were the top gainers.

UPL (+3.2%), Eicher Motors (+2%), Tata Motors (+1.5%), Aurobindo (+1.4%) and Coal India (+1%) were the top gainers on the Nifty50.

GAIL (-1.2%), HCL Tech (-0.73%), Bharti Airtel (-0.69%), Bajaj Finance (-0.67%) and Infosys (-0.40%) were the top losers in today’s trade.

India VIX dropped 3.01%.

Out of 1,979 stocks traded on the NSE, 1,224 advanced, 324 declined and 431 remained unchanged today.

A total of 51 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.