The BSE Sensex and Nifty opened on a positive note on Monday tracking firm global cues. (Photo: Reuters)
9.32 am: The rupee depreciated by 16 paise to 64.99 against the US currency in early trade on Monday due to strong demand for the dollar from importers. Sensex was up 96 points at 27,566.
The BSE Sensex and Nifty opened on a positive note on Monday tracking firm global cues. Sensex opened 104.23 points up at 27,575.04. Nifty opened 38.20 points up at 8,333.65.
Bharti Airtel announced its Q2 results on Monday before market hours. Bharti Airtel Ltd, India’s top mobile carrier by subscribers, posted a 10 per cent rise in quarterly net profit that beat estimates, helped by a surge in data usage by customers. The telecom major reported a consolidated net profit of Rs 1,522.70 crore against Rs 1,383.2 crore in the corresponding quarter a year ago. Bharti Airtel reported a fall of 54.96 per cent yoy at Rs 2,223.7 crore in its standalone net profit. Share price of Bharti Airtel was up around 1.6 per cent in the early trade.
Analysts on average expected Bharti Airtel to post a net profit of Rs 1,150 crore, according to Thomson Reuters data.
Sensex and Nifty gained 183.15 points and 43.75 points at 27,470.81 and 8,295.45 on Friday.
Global Markets
Asian stocks on Monday were close to wiping out all their losses since China’s shock currency devaluation in August, as global equities rallied after the Chinese central bank cut rates and US tech giants provided upbeat earning guidance.
Japan: Japan’s Nikkei share average rose to a fresh two-month high on Monday after China’s surprising rate cut lifted risk sentiment, while bellwethers Hitachi Ltd and Panasonic Corp surged on stronger earnings expectations.
New York: A tech share rally drove US stocks up sharply for a second day on Friday as earnings from companies including Microsoft beat analysts’ expectations, while healthcare shares rebounded from recent losses.
London: Britain’s top share index touched a two-month high on Friday, spurred by international monetary stimulus after China cut interest rates and as investors bet on further easing from the European Central Bank.
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