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Sensex, Nifty trade flat; Welspun India stock jumps 12%

Benchmark indices opened on a subdued note, tracking weakness in other Asian equities. Losses, however, were limited by gains in shares of metal, fast moving consumer goods and pharmaceutical companies, which rose 0.3-0.5%.

At 10:04 AM, the BSE Sensex was trading at 34,471, up 29 points, while the broader Nifty50 was ruling at 10,640, up 7 points.

Shares of telecom companies gained today after Telecom Commission on Tuesday agreed with Telecom Regulatory Authority of India’s recommendation to raise spectrum holding limit for mobile operators.

Shares of Reliance Communications soared nearly 4% today on report that Reliance Jio Infocomm may buy the company’s unsold airwaves.

Shares of Spice Mobility rose 3% after a subsidiary divested stake in Sunstone Eduversity.

The BSE Mid-cap and BSE Small-cap indices were up 0.16% and 0.26%, respectively.

Volatility index India VIX gained 1.20%.

Coal India (+1.5%), ONGC (+1.3%), Vedanta (+1.2%), Hindalco (+1.2%) and Airtel (+0.90%) were the top gainers on Nifty50.

Asian Paints (-0.91%), Bajaj Finance (-0.71%), Eicher (-0.69%), Infratel (-0.61%) and Indiabulls HF (-0.55%) were the top losers in today’s trade.

Out of 1,997 stocks traded on the NSE, 903 advanced, 706 declined and 388 remained unchanged today.

A total of 85 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.