Mumbai: The Sensex and Nifty rose in early trade on Wednesday on gains in telecom, power and energy stocks. The BSE benchmark Sensex rose by 187.89 points, or 0.32 per cent, to 58,852.22 and the NSE Nifty rose by 59.85 points, or 0.34 per cent, to close at 17,563.20. Shares of Bharti Airtel, Powergrid, NTPC, Sun Pharma and Reliance Industries rose in the Sensex. Out of which, it has increased by 2.04 per cent.
Shares of Bajaj Finserv, Tech Mahindra, Maruti, Asian Paints and Infosys, on the other hand, declined in early trade. Analysts said the stock market is currently watching the telecom sector. The big companies in the sector have started raising rates, which will boost the profits of telecom companies. The Sensex had gained 198.44 points, or 0.34 per cent, to close at 58,465.89 and the Nifty had gained 86.80 points, or 1.96 per cent, or 0.50 per cent, to close at 17,503.35.
Other Asian markets were trading with moderate to deep losses due to rising US bond yields and volatility in global crude oil prices. Foreign institutional investors (FIIs) had a net sale in the capital market on Tuesday. They sold shares worth Rs 4,477.06 crore, according to stock exchange data. International oil benchmark Brent crude rose 0.15 percent to 82 82.30 a barrel. (Agency)
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