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Free Trading Trial- Stock Performance for the Week ended Friday

Free Stock Tips, Indian Stock Market, Share Tips, Online Trading Tips, Online Trading on Mobile, Intraday Trading Tips, Weekly Market Update, stock Tips TomorrowDomestic stocks registered moderate gains in the week ended Friday, 5 Jan 2018. The Sensex kept the psychologically significant 34-K mark after falling below that level during the week. Small gains logged the Sensex & Nifty to record closing high.

Telecom stocks hogged limelight becoming the top gainers on Friday trading session as significant developments crowded the sector. The telecom majors such as Idea Cellular Ltd, telecom tower Company, GTL Infrastructure Limited, and Bharti Airtel surged over 5%, and Reliance Communications surged over 7%, while BSE Telecom index maintained 3% gain during the week ended Friday.

The BSE Telecom index closed at 1,718.79 level, up by 2.75%. Meanwhile, BSE Sensex ended at 34,153.85 level, higher by 0.54% and NSE Nifty50 ended at 10,558.85 level, higher by 0.51% respectively.

Telecom major, Idea Cellular gained over 10% on the back of fund raising and merger plans with Vodafone, whereas Reliance Communications surged by over 7% following China Development Bank’s withdrawal of insolvency filing.

GTL Infrastructure Limited surged on the Exchanges on the back of company’s merger plans with Aircel. Meantime, Bharti Airtel charted gains on the back of its deal with China-based Transmission Holding’s handset brand ITEL Smartphones.

Among the top stocks of the telecom sector, Idea cellular closed with a gain of 10.67%, GTL Infra closed at Rs. 7.46%, up by 6.27% on BSE. Besides, Bhati Airtel and Reliance Communications also ended with gains of 3.36% and 2.10%, respectively.

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The indices hold the morning ganins. Sensex gained by 100 points, led by the strong gains in oil companies. the S&P BSE Sensex is trading at 33,276, up by 119 points, while NSE Nifty is trading at 10,373 up by 50 points. The BSE Mid-cap Index is trading up by 1.19% at 16,574 whereas BSE Small-cap Index is trading up by 1.10% at 17,494. ONGC, BPCL, Ambuja Cements, SBI Bank, and Hindalco are among the gainers, whereas Cipla, India Bulls Housing Finance, Wipro, Coal India, and Axis Bank are losing steam on NSE. Some buying seen in Basic Materials, Energy, Industrials, Telecom, Auto, Oil & Gas and Capital Goods on the BSE.

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