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Sensex, Nifty extend gain; RCom surges 10%

The Sensex was trading 52 points up at 38,147 levels, while the Nifty gained 10 points at 11,473 levels, well below its key level of 11,500.
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Equity benchmark indices extended gains for the seventh consecutive trading session on Tuesday.

However, immediately after marking an opening in the green, markets pared gains. The Sensex was trading 52 points up at 38,147 levels, while the Nifty gained 10 points at 11,473 levels, well below its key level of 11,500.

ADAG stocks spurted with Reliance Communication gaining 10% followed by Reliance Capital, Reliance Power, and Reliance Naval and Engineering, which gained 5% each on the BSE. Shares spurted after Mukesh Ambani rescued Anil’s Rcom and helped him to clear Rs453cr Ericsson dues.

Among stocks, Sun Pharma, Bharti Airtel, GAIL, Grasim, and HCL Tech were the top gainers on the NSE. Conversely, Hero MotoCorp, Eicher Motors, L&T, JSW Steel, and Bajaj Auto lost the most on the NSE.

All sectoral indices were trading on a mixed note on the NSE. Nifty Pharma and PSU Bank indices gained ~1%. On the flip side, the Nifty Auto index slipped ~1%.

Notably, India Volatility Index, VIX, was trading 0.3% up at 16.96. 

Further, market breadth was positive on the NSE with 910 stocks advancing, 627 shares declining, and 528 remaining unchanged.

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  1. Trade Nivesh: Reliance Power with over 11 crore crore shares changing hands was leading among the most traded stocks on NSE on Tuesday.

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