Telecom sectors were the highlight of today's trade as Supreme court canceled all 2G lisences issued in 2008. However, affected telecom companies can continue operations for 4 months.
Court has asked the regulator Telecom Regulatory Authority of India (TRAI) to take fresh recommendation on allocation of 2G licenses.
Asian stocks ended positively, the Japanese Nikkei gained 0.765 and closed at 8,876.82, while Hong Kong's Hang Seng gained 1.665 and was at 20,671.42.
At 3.35 pm IST, the 30-share BSE Sensex was at 17405.62 up by 105.04 points or 0.61% and NSE Nifty was at 5269.90 up by 34.20 points or 0.65%.
Among sectoral indices on BSE,most of the sectors were trading positively. TECk, IT, Metal, CG leading the rally.
While on the losing side, the sectors failed to lure investors were Health Care, Consumer Durables and FMCG.
On the National Stock Exchange (NSE), the top volume gainers were Bharti Airtel, HCL Tech, Sesa Goa, ACC and Ambuja Cement posted gains between 4.47%-6.49%
And the loser in today trade were IDFC, Reliance Communications, DR Reddy, Cairn and Cipla.