Nifty is caught within a tighter trading range of 11950 and 11850: Analyst
Market heavyweights HDFC Bank, RIL and Infosys edged higher
Indian stock markets edged higher in early trade with Sensex rising 70 points to 40,356. The broader Nifty rose 0.25% to 11,913. Bharti Airtel gained 3.5%, after sharp upmove in the previous two sessions.
Other top gainers in the Sensex pack included Tech Mahindra, Axis Bank, and Yes Bank, up between 1% and 1.5%. Market heavyweights HDFC Bank, RIL and Infosys also edged higher. Some selling pressure was seen in Vedanta, Kotak Bank, Bajaj Auto and HUL, down between 0.5% and 1%.
Faced with intense competition and unprecedented statutory dues, Bharti Airtel and Vodafone Idea on Monday announced a hike in mobile phone call and data charges from December saying the increase was warranted for viability of their business. The two operators, however, did not quantify the increase in rates but said that the hike will be effective beginning next month.
"Nifty is caught within a tighter trading range of 11,950 and 11,850. A breakout of this trading range is expected soon. Resistance above 11,950 is seen close to 12,100-12,300 levels and support below 11,850 is seen around 11,739 and 11,600," Geojit Financial Services said in a note.
Asian shares were mixed today as investors remain cautious over prospects for an agreement in trade talks between the United States and China. On Wall Street, all three major indexes edged above the all-time highs they set on Friday.
The two sides are continuing to negotiate, with stock markets around the world swinging on every hint of progress or tension. (With Agency Inputs)
Market heavyweights HDFC Bank, RIL and Infosys edged higher
Indian stock markets edged higher in early trade with Sensex rising 70 points to 40,356. The broader Nifty rose 0.25% to 11,913. Bharti Airtel gained 3.5%, after sharp upmove in the previous two sessions.
Other top gainers in the Sensex pack included Tech Mahindra, Axis Bank, and Yes Bank, up between 1% and 1.5%. Market heavyweights HDFC Bank, RIL and Infosys also edged higher. Some selling pressure was seen in Vedanta, Kotak Bank, Bajaj Auto and HUL, down between 0.5% and 1%.
Faced with intense competition and unprecedented statutory dues, Bharti Airtel and Vodafone Idea on Monday announced a hike in mobile phone call and data charges from December saying the increase was warranted for viability of their business. The two operators, however, did not quantify the increase in rates but said that the hike will be effective beginning next month.
"Nifty is caught within a tighter trading range of 11,950 and 11,850. A breakout of this trading range is expected soon. Resistance above 11,950 is seen close to 12,100-12,300 levels and support below 11,850 is seen around 11,739 and 11,600," Geojit Financial Services said in a note.
Asian shares were mixed today as investors remain cautious over prospects for an agreement in trade talks between the United States and China. On Wall Street, all three major indexes edged above the all-time highs they set on Friday.
The two sides are continuing to negotiate, with stock markets around the world swinging on every hint of progress or tension. (With Agency Inputs)
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