Key benchmark indices of the Indian markets began the day on a marginally higher note, in line with the Gross Domestic Product (GDP) numbers, which were reported at a 4.5% lower level. In spite of the weak GDP numbers, however, today stocks are witnessing buying pressure at a pleasing extent.
At around 9.45-am, the BSE Sensex was trading higher at 40954-level up by 160 points, while the NSE Nifty was trading higher by 35-points at 12091 points.
Bharti Airtel, Grasim Industries, Reliance, Bharti Infratel and Zee Entertainment were among major gainers on the Nifty, while Tech Mahindra, ONGC, Eicher Motors, Bajaj Finance and Dr.Reddys were major losers.
Shares of Bharti Airtel traded higher by over 7.6% to Rs476.20-per share today after it has on Sunday announced a tariff hike along with Vodafone Idea in the range of 15pc & 40pct across different plans.
Shares of Yes Bank gained near 1% in early trade, after the company’s BoD has proposed the placement of shares on a preferential basis.
Sectoral indices are mixed with major buying seen in the Nifty media up by 0.71% led by a gain in Jagran and DB Corp.
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Meantime, Nifty IT, Pharma and Realty sectoral stocks are trading lower upto 0.49%
For this week, the markets will altogether be expected to react the mico numbers to be reported after-market hours together with the sector-specific developments.
The economy posted its weakest growth in more than six years as the Gross domestic product (GDP) slipped to 4.5 percent in the September quarter. Besides, Purchasing Managers Index (PMI-Manufacturing for November is scheduled to be unveiled later in the day.
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Also, auto stocks will react to the sales data for November month released on Sunday as per which sales 4-wheeler and 2-wheeler slipped by near 8 percent in November.