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India's Sensex rallies 250 points; Bharti Airtel climbs 8%

13 Octobre 2017

The markets have been on an upsurge for the last two weeks and was further buoyed by government data which on Thursday showed that industrial output has hit a nine-month high.

India's consumer price inflation held steady in September, defying expectations for an acceleration, preliminary data from the Central Statistics Office showed Thursday.

For the second straight week, both indices rose, with the Sensex adding 618.47 points, or 1.94 percent - the biggest such weekly jump since 14 July when it read 660.12 points, or 2.10 percent - and the NSE Nifty soared 187.75 points, or 1.88 percent.

The 30-scrip Sensitive Index (Sensex) of the BSE closed at 32,432.69 points - up 250.47 points, or 0.78 per cent, from its previous close. The index was up 1.81 per cent for the week.

The company's revenue rose 1.7 percent in constant currency terms in the second quarter. On the other hand, healthcare index was down 0.29 per cent, FMCG 0.25 per cent, capital goods and oil & gas 0.14 per cent each.

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Top gainers included Bharti Airtel, Idea Cellular, Tata Steel, Bharti Infratel, Kotak Mahindra, Coal India and HDFC Bank while Dr Reddy's Labs, GAIL, M&M, Zee Entertainment, Sun Pharma, ITC and Maruti Suzuki declined.

Bharti Airtel, the nation's largest telecom operator, surged 13% for the week after jumping 7.9% on Friday. While quarterly profit slid marginally year-on-year, analysts say margin recovery was the key positive.

Meanwhile, Reliance Industries climbed as much as 2.1 percent to a record high ahead of its September-quarter results.

Asian stocks held firm near a 10-year high on Friday thanks to expectations of brisk global growth, although investors held off chasing the shares higher ahead of USA and Chinese economic data as well as the Chinese Communist Party congress next week. The broader Topix index was up 0.50 percent or 8.49 points, at 1,708.62.

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India's Sensex rallies 250 points; Bharti Airtel climbs 8%