Sensex, Nifty open mildly higher on RIL support; Bharti, Idea sink
Equity benchmarks opened mildly higher on Wednesday, led by support from index heavyweight Reliance Industries.
The 30-share BSE Sensex was up 63.74 points at 32,466.11 and the 50-share NSE Nifty gained 11.90 points at 10,159.45.
Telecom stocks - Bharti Airtel, Idea Cellular and Reliance Communications fell 3-6 percent after telecom regulator TRAI slashed mobile call connection charge to 6 paise per minute from 14 paise currently, effective October 1.
Tata Motors, ICICI Bank, BPCL, Cipla, Coal India, Ambuja Cements, NTPC and Wipro were also under pressure in early trade.
Reliance Industries rallied 4 percent, followed by L&T, ONGC, HDFC Bank, ITC, Tata Power and Yes Bank.
Tata Steel and Thyssenkrupp AG have signed a memorandum of understanding to create a leading European steel enterprise by combining the flat steel businesses of the two companies in Europe and the steel mill services of the Thyssenkrupp group.
SBI Life Insurance Company has garnered nearly 27 percent of IPO amount from anchor investors on Tuesday, the day before issue opening.
The country's largest private life insurance company raised Rs 2,226 crore from 69 anchor investors, which include big PE firms and mutual fund houses like BlackRock Global, Axis Mutual Fund, HSBC Global, Monetary Authority of Singapore, Kuwait Investment Authority, Baron Emerging Markets Mauritius etc.
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