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Stock market update: Telecom stocks up; Idea, RCom, Airtel among gainers

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NEW DELHI: A majority of telecom stocks were trading up in early trade on Monday, keeping the sectoral index up.

The BSE Telecom index was trading 0.58 per cent up at 1,217 around 10 am.

Shares of GTL Infrastructure (up 4.43 per cent), Vindhya Telelinks (up 3.29 per cent), GTL (up 2.61 per cent) and Aksh Optifibre (up 2.57 per cent) were the top gainers in the telecom index.

ITI (up 1.80 per cent), GTPL Hathway (up 1.74 per cent), MTNLNSE 5.00 % (up 1.25 per cent), Idea CellularNSE 2.68 % (up 1.17 per cent), Tata Communications (up 1.09 per cent) and Reliance CommunicationsNSE 6.99 % (up 1.05 per cent) too were trading with decent gains.

Shares of Himachal Futuristic CommunicationsNSE 1.74 % (up 0.78 per cent) and Bharti AirtelNSE -0.48 % (up 0.70 per cent) were also in the green.

On the contrary, Tejas Networks (down 0.50 per cent), Sterlite TechnologiesNSE 1.35 %(down 0.13 per cent) and Bharti Infratel (down 0.10 per cent) were in the red around that time.

Equity markets were up amid positive global cues as signals of the revival of US-North Korea talks cheered investors.

A fresh fall in crude oil prices and strengthening rupee also gave hope to investors.

Benchmark BSE Sensex was up 186 points at 35,111, while the NSE Nifty50 index was up 63 points at 10,669.

In the Sensex index, 22 stocks were trading up, while 9 were down.

Sun Pharma, Coal India, Maruti and ICICI Bank were the top gainers in the Sensex index.

On the other hand, Tata Consultancy Services, IndusInd Bank and Power Grid Corporation were the top losers in the Sensex kitty.

[“Source-economictimes”]

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Loknath Das

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