Key benchmark indices extended early gains and hit fresh intraday high in morning trade. At 10:14 IST, the barometer index, the S&P BSE Sensex, was up 165.97 points or 0.64% at 25,941.71. The Nifty 50 index was up 46.05 points or 0.59% at 7,877.65.
The Sensex rose 184.54 points, or 0.71%, at the day's high of 25,960.28 in morning trade, its highest level since 20 November 2015. The Nifty rose 54.05 points, or 0.69%, at the day's high of 7,885.65 in morning trade, its highest level since 20 November 2015.
The market breadth indicating the overall health of the market was strong with over two gainers for every loser. On BSE, 1,346 shares rose and 584 shares fell. A total of 147 shares were unchanged. The BSE Mid-Cap index was up 0.33%. The BSE Small-Cap index was up 0.55%. Both these indices underperformed the Sensex.
In overseas markets, Asian shares advanced as geopolitical tensions between Russia and Turkey eased. US stocks ended almost unchanged yesterday, 25 November 2015 as consumer discretionary and healthcare shares battled losses in other sectors on the last full trading day of the week. The US stock market is closed today, 26 November 2015 for Thanksgiving Day holiday and will close early tomorrow, 27 November 2015.
Index heavyweight and engineering and construction major L&T advanced 0.71% to Rs 1,351.90 after new orders win. The stock hit high of Rs 1,354.10 and low of Rs 1,346 so far during the day. L&T during market hours today, 26 November 2015 said that the power transmission & distribution business of L&T Construction has secured orders worth Rs 1038 crore in the international and domestic markets in November 2015.
Telecom stocks edged higher. Bharti Airtel (up 0.95%), MTNL (up 2.91%), Tata Teleservices (Maharashtra) (up 0.43%) and Reliance Communications (up 4.64%) rose.
Idea Cellular rose 1.25%. Videocon Industries jumped 5.91%. Idea Cellular signed a pact with Videocon Industries' subsidiary, Videocon Telecommunications (VTL), to buy spectrum in the Uttar Pradesh (West) and Gujarat circles for Rs 3310 crore. Idea Cellular and Videocon Industries made the announcement after market hours on Tuesday, 24 November 2015.
As per the agreement, Idea Cellular has bagged rights to use 2x5 MHz spectrum in the 1800 MHz band allotted to VTL by the Government of India, Ministry of Communication & IT, Department of Telecommunication (DoT) on 2 April 2013 for Gujarat Service Area and UP (West) Service Area.
VTL was on 4 March 2013, awarded the Unified License (Access Services) for select circles, namely, Bihar, Gujarat, Haryana, Madhya Pradesh and Chhattisgarh, Uttar Pradesh (East) and Uttar Pradesh (West), effective from 16 February 2013, which is valid for a period of 20 years. VTL was also allotted 2X5 MHz spectrum in 1,800 MHz category by DoT in each of these circles. Presently VTL is providing GSM mobile services in these circles.
Idea said it intends to use this acquired spectrum for launching 4G (LTE) mobile broadband services in the service areas of Gujarat and Uttar Pradesh (West). With this spectrum trading arrangement, Idea's 4G (LTE) spectrum footprint will expand to 12 service areas covering over 75% of Idea's current revenue and over 72% of existing 170 million quality subscribers on visitor location register (VLR). These 12 circles currently contributes 60% of the Indian telecom industry mobility revenues. After completion of this transaction, Idea would have full range of mobility services across 2G (GSM), 3G (HSPA) and 4G (LTE) technologies in all of its 8 leadership markets of Maharashtra & Goa, Kerala, Andhra Pradesh & Telengana, Madhya Pradesh & Chhattisgarh, Haryana, Punjab, Gujarat and Uttar Pradesh (West).
Realty stocks edged higher. DLF (up 3.74%), Indiabulls Real Estate (up 1.23%), Housing Development and Infrastructure (up 0.89%), D B Realty (up 0.89%), Unitech (up 2.53%), Godrej Properties (up 0.51%), Oberoi Realty (up 0.78%) and Parsvnath Developers (up 0.8%) gained.
Powered by Capital Market - Live News
