Nifty hits 52-week high as telecom index gains over 3%

Telecom was the leading sectoral gainer, up over 3% today on the back consolidation in sector

Benchmark indices extended gains with Nifty50 hitting a fresh 52-week high of 8,970.05 for the first time since September 2016 led by telecom index as Bharti Airtel hit an 18-month high on its plan to buy Telenor India.
                                     
Heading for a fifth consecutive week of gains, the street remained volatile ahead of expiry of futures & options contracts for the month of February.
 
Globally, Asian stocks steadied on Thursday after earlier losses, aided by a weaker dollar as markets studied Federal Reserve meeting minutes that indicated both readiness and caution over raising interest rates.
 
At 1:44 pm,