Sectorally, all indices except Nifty Auto and Metal traded in the green, with Nifty Media leading gains.
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Indian benchmark indices started Wednesday on a positive note, after making a blockbuster finish on Tuesday on expectations of capital market tax cuts.
The Sensex traded at 39,966, rising 134 points, after briefly hitting the 40K mark, while the Nifty was trading comfortably above 11,800. (9.22AM)
Bharti Airtel and Grasim were the top gainers on the Nifty, while Tata Motors and ONGC were the top losers.
Shares of Bharti Airtel rose 2% in early trade after the company reported that its mobile business revenue rose 7% YoY to Rs10,981cr in Q2FY20. The mobile average revenue per user fell 0.8% QoQ to Rs128, compared to the estimate of Rs127.
In addition, Vodafone Idea jumped 5% after media sources said that the Committee of Secretaries, headed by Cabinet Secretary Rajiv Gauba, has been asked to evaluate financial stress faced by telecom operators and suggest measures to alleviate the stress.
Sectorally, all indices except Nifty Auto and Metal traded in the green, with Nifty Media leading gains.
Meanwhile, the earnings season rolls on with Tata Chemicals, Container Corporation, Tata Global Beverages, United Bank Of India, Graphite India, Heritage Foods, Indoco Remedies, JK Tyre, PTC India, and Quess Corp among others to release their Q2 results today.
The Indian rupee opened lower by 6 paise at 70.90/$ on Wednesday vs. its previous close of 70.84/$.
Asian markets traded mixed ahead of the FOMC rate decision later today.
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* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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