Sensex Tops New Highs Of 49724, Nifty At 14629 At Open; Airtel Jumps 5%

In line with gains on the SGX Nifty, Indian indices after hitting 49500 levels on the Sensex in yesterday's trade will open again higher. At the start, Nifty traded higher by over 0.4% at 14629, while Sensex was up around 0.42% at 49724. Nifty PSU Bank after scaling 5% in the previous day's trade was up by over 1%, while Nifty Bank also traded with gains of

Sensex Tops New Highs Of 49724, Nifty At 14629 At Open; Airtel Jumps 5%

In early trade, gainers include Bharti Airtel, Tata Motors, Tata Steel, Adani Ports and SBI, while losers include Eicher Motors, Bajaj Auto, TCS,Axis Bank and Maruti Suzuki.

Airtel has been allowed 100% FDI in its subsidiaries and brokerages see significant upside in the counter. The scrip in early trade was up by 5% and is likely to see foreign fund investing.

Infosys is expected to announce its Q3FY21 results and the IT major is expected to post a 8-9% YoY growth. This is on the back of Vanguard deal, incremental revenue contribution from acquisitions as well as strong growth momentum in key verticals,

Tata Motors shall also be in focus after almost 20% gains in last two sessions and the company reported a 1 per cent rise in global wholesales, including Jaguar Land Rover, to 2,78,915 units in the third quarter of the current fiscal

In the previous day's trade, FPIs were net buyers in Indian equities worth Rs. 571 crore.
Meanwhile, Asian indices were trading with gains of over 0.5% indicating positive sentiment.

In Wednesday's trade, crude prices climbed to pre-Covid 19 levels of $56.75 per barrel, this is on a larger crude draw than expected.

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