Firm buying in key heavyweights supported by a rally in telecom stocks led the benchmark Nifty to end above the key 7,750-level on the back of a robust 84 points gain at the National Stock Exchange (NSE) here today. Also Read - Google Pixel 6, Pixel 6 Pro launches with Tensor chip, Android 12 starting at $599
Encouraging corporate earnings bolstered the investor sentiment, while good FII inflows into Indian equities along with global market turning positive amid easing tension over Ukraine after downing of a passenger aircraft also helped the 50-issue index to rise for the sixth consecutive session. Telecom stocks were main player in the surge following yesterday’s smart Q1 results from Idea Cellular. Telecom regulator TRAI recommending sharing of all categories of airwaves held by operators, too, was welcomed by the market. Also Read - Zomato faces backlash on Twitter after it fires employee calls Hindi a 'national language'
Key IT, energy, FMCG, pharma, banking, auto, metal and infra shares saw buying spree, while some PSU Banks, the broader mid and small cap segments posted losses. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 161.17 crore yesterday, as per provisional data from stock exchanges. The Nifty traded between a high of 7,773.85 points and a low of 7,704.80 points before ending at 7,767.85 points, up 83.65 points, or 1.09 percent, from its previous close. Major gainers included Bharti Airtel 5.03 percent, Reliance 3.34 percent, HDFC 3.04 percent, TCS 2.79 percent and Dr Reddy’s Lab rose 2.63 percent. Also Read - Google Pixel 6 Pro pricing, specs leaked via Amazon UK listing: Check details
Turnover in the cash segment climbed to Rs 15,822.10 crore from Rs 14,273.80 crore yesterday. A total of 8,142.87 lakh shares changed hands in 67,10,343 trades, while total market capitalization stood at Rs 89,29,195 crore.