Sensex gains 131 points; Bharti Airtel surges (Lead)
February 2nd, 2012 - 7:57 pm ICT by IANS
Mumbai, Feb 2 (IANS) A benchmark index for Indian equities closed 131 points higher Thursday, led by an almost seven percent jump in the share price of Bharti Airtel after the Supreme Court directed the cancellation of 122 telecom licences issued after 2008, a move that would benefit the older players.
The 30-scrip sensitive index (Sensex) of the BSE, which opened at 17,438.07 points, ended the day at 17,431.85 points, up 0.76 percent or 131.27 points from its previous close at 17,300.58 points.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange closed 0.65 percent or 34.20 points higher at 5,269.90 points.
The country’s largest telecom firm Bharti Airtel surged 6.88 percent at Rs.385.95 after the Supreme Court ordered the cancellation of all the 122 licences for 2G spectrum allocated in 2008 during the tenure of then telecom minister A. Raja.
Bharti Airtel seem to be the biggest gainer of the move as major portion of the subscribers of the affected companies are expected to shift to it.
Other prominent Sensex gainers were DLF, up 4.05 percent at Rs.225.85; Sterlite Inds, up 3.90 percent at Rs.123.95; Wipro, up 3.46 percent at Rs.425.85; Gail India, up 3.15 percent at Rs.388.35 and Hindalco Inds, up 3.04 percent at Rs.157.50.
Major Sensex losers included: Cipla, down 2.53 percent at Rs.339.70; ITC, down 1.36 percent at Rs.198.80; Jindal Steel, down 1.05 percent at Rs.571.10 and Tata Motors, down 0.99 percent at Rs.246.10.
Broader markets as well as most of the sectoral indices also closed in the positive. The BSE midcap index rose 0.55 percent and the smallcap index 0.54 percent higher.
- Telecom scrips push Sensex higher - Feb 02, 2012
- Sensex soars past 17,600 points; registers 5th weekly gain (Roundup) - Feb 03, 2012
- Sensex climbs 119 points; SBI, RIL rally (Lead) - Apr 03, 2012
- Sensex up 11 points in noon trade - May 09, 2012
- Sensex remains choppy; ICICI Bank, M&M; rally - Apr 27, 2012
- Sensex rises 100 points; TCS, Wipro surge - Apr 24, 2012
- Sensex closes 44 points down (Lead) - Apr 11, 2012
- Sensex witnesses choppy trade, Bharti Airtel rises (Lead) - Feb 03, 2012
- Sensex ends 111 points up; TCS, Wipro surge (Lead) - Apr 24, 2012
- Sensex climbs 230 points; technology, realty stocks rise (Lead) - Dec 26, 2011
- Sensex down 119 points; consumer durable, auto stocks fall - May 23, 2012
- Sensex slumps 117.57 points, Wipro tanks - Apr 25, 2012
- Sensex falls 111 points on weak global cues (Lead) - Apr 04, 2012
- Sensex closes 56 points up on interest rate cut hopes (Lead) - Apr 16, 2012
- Sensex rises 149 points on positive European cues - Sep 06, 2011
Tags: benchmark index, bharti airtel, bse, feb 2, gainer, gainers, hindalco, inds, itc, midcap index, national stock exchange, rs 425, sectoral indices, sensitive index, share price, smallcap index, surges, tata motors, telecom firm, wipro