Nifty reclaims 8950, Sensex higher; Idea rises 7%, Bharti up 10%
Equity benchmarks started off last day of the week on a positive note but erased some opening gains on profit booking amid weak Asian cues.
The 30-share BSE Sensex was up 40.16 points at 28904.87 and the 50-share NSE Nifty rose 10.30 points to 8937.20. About 477 shares advanced against 283 declining shares on the BSE.
Bharti Airtel shares gained 8 percent amid high volumes after it decided to acquire Telenor India that gives the company additional spectrum in 1,800 MHz band.
The Indian rupee has opened almost flat at 66.96 per dollar on the last day of week against previous close of 66.97.
US dollar remained rangebound against majors as market focus shifts to a possible rate hike in March FOMC meeting.
In-line with global trends, rupee is also seen in a narrow range, USD-INR trading range for the day is 66.80-67.05/dollar,
The dollar slipped after Federal Reserve meeting minutes disappointed expectations for a hawkish tone.
Asia markets traded modestly lower today, following a mixed close in US equities overnight as minutes from the Federal Reserve's previous meeting hinted that a rate hike is coming "fairly soon."