Nifty gains in morning trade, Bharti Airtel up 2% on Tikona buy
Indian markets opened in green on Friday with Nifty regaining 9,110-mark.
Nifty surged 29 points or 0.32% trading at 9,115.70 while Sensex gained 117.61 points or 0.40% trading at 29,449.77.
Top gainer on BSE were – ICICI Bank at Rs 271.80 per share (1.78%), followed by Bharti Airtel at Rs 343.50 per share (1.51%), ITC at Rs 280.60 per share (0.97%) and State Bank of India at Rs 270.90 per share (0.89%).
Shares of Airtel gained on its plan to acquire Tikona's 4G business. Also Read: Airtel to acquire Tikona 4G business; add 2300Mhz spectrum in five circles
Yes Bank shares were up Rs 16 or 1.05% on BSE, trading at Rs 1532 per share after the bank on Wednesday launched $650 million Qualified Institutional Placement (QIP) issue with an option to upsize to $750 million.
Top losers were – Tata Motors (Rs 468.45 per share), Infosys (Rs 1034.85 per share), HDFC Bank (Rs 1425.90 per share), Cipla (Rs 594.50 per share), Hero Motorcorp (Rs 3354.80 per share) and ONGC (Rs 192.45 per share) trading negative in the range of 0.30% - 0.70%.
Analysts at HDFC Securities said, "Our markets behaved as expected and 9030 now becomes a near term support for nifty and stop loss for the long trades. 9200 where highest amount of calls are written is a barrier for the markets in the short run."
They added, "After being battered for two years, large cap Pharmaceuticals are showing signs of forming a base. It is time to add pharma stocks to your portfolio, apart from Upstream Oil & Gas, Media Engineering and Cap Goods and IT sectors stocks you have. "
Meanwhile Indian rupee was trading higher against US dollar. The rupee was trading at 65.451 above 0.035 paisa or 0.05% against dollar.