Telecom, Auto stocks up in today’s session; Airtel, Bajaj Auto leads

Bajaj Auto secured the top position on the Auto index trading higher by 2%. The stock is gaining for the third day on both the indices.

Apr 11, 2019 09:04 IST India Infoline News Service

Telecom and Auto stocks were trading in the green on Thursday, while equity benchmark indices were trading in the red zone.

The Sensex was down 13 points at 38,572 while the Nifty was at 11,592, up 8 points. The market breadth was neutral on the NSE with 737 shares advancing, 970 shares declining, and 381 remaining unchanged.

The BSE Auto index was trading flat at 19,592.

Bajaj Auto secured the top position on the Auto index trading higher by 2%. The stock is gaining for the third day on both the indices.

Other auto stocks including Ashok Leyland, Tata Motors, Exide Ind, Motherson Sumi, and M&M are also trading higher by 1%, respectively.

On the flip side, Balkrishna Ind, ApolloTyre, Bharat Forge, and Maruti were trading in the negative territory.

On the other hand, BSE telecom rose 1% in the last hour of trading session as the rally was led by Bharti Airtel, Tata Comm, and Infratel

As per media reports, Vodafone Idea, Bharti Airtel and Reliance Jio have paid the government over Rs10,000cr in spectrum dues slated for April 10, however, Reliance Communications has so far not deposited its outstanding amount of Rs492cr.

Shares of RCom extended decline on the BSE was trading lower by 3%.

Meanwhile, on the political front, the first phase of Indian elections has kicked off with voting began in 91 Lok Sabha constituencies across 20 states and Union Territories on Thursday in the first of the mega seven-phase electoral exercise. Voting for Assembly polls is also being held in Andhra Pradesh, Sikkim, Arunachal Pradesh and some seats in Odisha simultaneously.

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