Indian benchmark indices made a positive start on Tuesday. The Sensex was up 83 points at 40367, and the Nifty traded higher by 24 points back above the 11,900 level. (9.22 AM)
The sectoral trend was mixed with Nifty IT leading gainers.
The Nifty IT index was up 0.4% led by JustDial and Tech Mahindra, on account of the sliding rupee, which opened lower today at 71.91/$.
Telecom majors Vodafone Idea and Bharti Airtel continued their sharply northward journey after announcing tariff hikes effective December 1, 2019.
While Vodafone did not reveal the exact extent of the hike, it said that the tariffs would be "suitably" raised. Soon after the company announced the hike, Bharti Airtel also made a similar announcement in response to the staggering losses and debt levels the firms reel under.
Other major gainers included Grasim, Bharti Infratel, and Tech Mahindra, while losers included ZEEL, UPL, and Gail.
Meanwhile, Asian stocks traded lower as doubts regarding the US-China trade deal made a comeback. Oil fell 1% overnight as the trade deal euphoria faded.
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