Sensex rises 80 points in early trade, Bharti Airtel among top gainers

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BSE Sensex appreciated by over 80 points in early trade on Monday despite weak GDP numbers, sliding rupee and rising crude prices.

However, a rally in other asian stock markets supported the domestic market, dealers said.

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The 30-share index was trading 81.65 points, or 0.20%, higher at 40,875.46 in morning hours.

While NSE Nifty was quoting 25.35 points, or 0.21%, up at 12,081.40.

Bharti Airtel emerged as the top gainer by surging 7.92 after it announced to hike tariffs from December 3, followed by Reliance, Tata Motors, HUL, IndusInd Bank Axis Bank, Infosys and TCS.

On the other hand, TechM was was the biggest loser (2.55%) in the Sensex pack, followed by ONGC, Bajaj Finance, PowerGrid, Tata Steen and Sun pharma.

On Friday, the BSE benchmark Sensex plummeted 336.36 points or 0.82% to close at 40,793.81. Likewise, the broader NSE Nifty also settled 95.10 points or 0.78% down at 12,056.05.

India’s GDP growth in the second-quarter slowed sharply to 4.5%, the weakest in more than six years, as manufacturing output hit a slump and consumer demand weakened.

Meanwhile, the rupee depreciated 4 paise against the US dollar to trade at 71.78 in early session.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo surged on Monday after a report showed jump in Chinese factory activity.

(With Agency Inputs)

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