Indices open flat; RCom continues rally
BSE telecom, which was up 2.28% yesterday, opened flat today
Shares of Sun Pharma, ONGC, Tata Steel, YES Bank, NTPC, Reliance and Dr Reddy's helped the 30-share Sensex maintain its 34,000 mark when the market opened today. The index opened at 34,087.32 over yesterday's close of 34,010.61, while Nifty opened flat.
Reliance Communications share continued its rally with rising over 18%. The stock yesterday closed up 30.78% on the BSE after Anil Ambani said that the total debt of the company would come down by Rs 39,000 crore and the company will close all the transactions by January-March 2018.
Anil Ambani's other companies, except for Reliance Infrastructure (up -0.56%) continued with their rally today. Reliance Naval (up 1.75%), , Reliance Power (up 1.27% ), Reliance Capital (up(+1.49% ), Reliance Home Finance (up 0.67% ) opened up today on the BSE.
Healthcare, power and oil stocks were the top performers in the morning trade. At 10.30 am, Healthcare index was up 1.66% at 14785.75. Mangalam Drugs & Organics Ltd (up 7.06%), Wockhardt Ltd (5.93%), Morepen Laboratories (4.33%), Gufic Biosciences (up 4.39%), Sun Pharma (up 4.01), Divis Laboratories (up 4.01%), Alembic Ltd (2.86%), Panacea Biotec (up 3.40%), Fortis Healthcare (up 3.39%) were the best performers in the index.
BSE telecom, which was up 2.28% yesterday, opened flat today. Realty and metals stocks, which were the Sensex drivers yesterday, opened flat.
Telecom companies' stocks like Bharti Airtel Tata Teleservices (Maharashtra) Ltd, Idea Cellular and MTNL did not see much action.