Markets Trade Higher: Bharti Airtel, HUL Shares Advance

Posted By: Religare
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The key domestic benchmark indices were trading marginally higher in the morning trading session. A bearish trend across Asia and a sell-off at Wall Street overnight continued to unnerve traders, curbing risk taking appetite and gains on the bourses.

Markets Trade Higher: Bharti Airtel, HUL Shares Advance

Volatility may remain high at the stock bourses this week while the rupee which tumbled the most in ten months on Friday may continue to remain under pressure with Brexit likely to prompt a shift away from risky assets including emerging market equities. Also, investors may remain cautious ahead of the June Futures & Options (F&O) contract expiry this week.

At 10:15 AM, the Bombay Stock Exchange bellwether Sensex was at 26457.15 up by 54.19 points or by 0.21 per cent, while the NSE Nifty was at 8108.45 points, trading higher by 13.75 points or by 0.17 per cent.

The BSE Sensex touched an intraday high of 26490.31 and an intraday low of 26378.46 while the NSE Nifty touched an intraday high of 8124.9 and an intraday low of 8086.85

The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 357.50,+1.84 per cent), Hindustan Unilever Ltd. (Rs. 873.45,+1.59 per cent), Lupin Ltd. (Rs. 1501.50,+1.56 per cent), Larsen & Toubro Ltd. (Rs. 1482.40,+1.02 per cent), Asian Paints Ltd. (Rs. 983.25,+0.94 per cent), among others.

Meanwhile, Tata Motors Ltd. (Rs. 441.75,-1.53 per cent), NTPC Ltd. (Rs. 147.40,-1.14 per cent), ICICI Bank Ltd. (Rs. 230.60,-0.97 per cent), Wipro Ltd. (Rs. 545.60,-0.64 per cent), GAIL (India) Ltd. (Rs. 378.50,-0.47 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2023 shares traded, 1355 shares advanced, 550 shares declined while 118 were unchanged.

On the global front, Asian stocks were trading mixed today on concerns that Britain"s decision to leave the European Union may slow global economic growth while speculation emerged that policymakers may shore up financial markets with investors awaiting signs from central banks to help quell market turmoil. The US markets slumped in the previous trading session, extending their sell-off reacting to the Brexit referendum and the major averages fell to their lowest closing levels in well over three months.

Read more about: sensex, nity, bharti airtel, hul
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