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Markets End the Day Higher, Bharati Airtel Surges 11%

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Benchmark indices ended the day higher, following strong closings across Asia and the US, on hopes for a Covid 19 vaccine and more stimulus measures in the US.

 

The Sensex ended the day higher by 167 points, while the Nifty gained 55 points in trade. Shares in Bharti Airtel ended up 11 per cent despite the telecom major reporting a net loss of Rs 5,237 crore in the quarter ended March, compared with a profit of Rs 107.2 crore quarter-on-quarter. The net losses were on account of the provisions and the higher ARPUs impressed the markets.

Markets End the Day Higher, Bharati Airtel Surges 11%

Vedanta ended 2 per cent lower, after reports that the board has approved the proposed de-listing of the mining company's shares from the BSE and NSE.

AU Small Finance Bank saw its shares lose 2.5 per cent, after reports that Chiranjee Lal Agarwal, one of the promoters of AU Small Finance Bank, sold 25 lakh shares of the company for Rs 103 crore through an open market transaction.

Among the top Nifty losers in trade were UPL, Vedanta, IndusInd Bank and Larsen and Toubro. Meanwhile, European markets were marginally in the red, after a solid rally seen on Monday. The US Dow Futures were also pointing to slightly lower openings for the US Markets.

Read more about: stock market airtel
Story first published: Tuesday, May 19, 2020, 15:42 [IST]
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