Markets

Sensex, Nifty Edge Higher On Asian Cues

(RTTNews) - Indian shares followed Asian peers higher on Friday after White House economic adviser Larry Kudlow said that Washington and Beijing were close to striking a trade deal.

The benchmark BSE Sensex rose by 175 points, or 0.44 percent, to 40,461 while the broader NSE Nifty index was up 55 points, or 0.47 percent, at 11,927.

Bharti Airtel rallied 2 percent while Vodafone Idea tumbled over 3 percent after they posted record losses in the September quarter, ravaged by an unfavorable Supreme Court verdict on adjusted gross revenues.

Indian Oil Corp shares declined 2.4 percent amid reports that the government plans to reduce its stake in the state-run oil marketing company to below 51 percent.

Union Bank of India climbed 1.9 percent despite the bank posting a net loss of Rs. 1,194 crore in the September quarter, hit by a high provisioning burden.

Dr Reddy's Laboratories edged down slightly after announcing its entry into India's nutrition segment.

GVK Power and Infrastructure slumped 4.4 percent after widening its Q2 net loss.

Grasim Industries advanced 0.8 percent on posting turnaround results for the July-September period.

Suzlon Energy lost 6 percent after widening its quarterly consolidated net loss.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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