India's Sensex reclaims 32,000 level; Bharti Airtel top gainer

Indian shares extended their rally to an eighth session on Wednesday, with Asian equities trading near decade highs after Wall Street's record gains as Catalan worries eased.

india trader
Reuters

Indian shares extended their rally to an eighth session on Wednesday, with Asian equities trading near decade highs after Wall Street's record gains as Catalan worries eased.

Asian shares rose while the euro hovered near a 10-day peak after Catalonia's leader talked down immediate plans to secede from Spain.

MSCI's broadest index of Asia-Pacific shares outside Japan nudged 0.24 percent higher to test a recent decade peak of 545.56.

Catalan President Carles Puigdemont said that while an October 1 referendum had given him the mandate to pursue independence, he would "suspend" the result for a period of some weeks for dialogue with Prime Minister Mariano Rajoy's administration.

At 0600 GMT, the S&P BSE Sensex gained 0.43 percent at 32,060 while the broader NSE Nifty rose 0.41 percent to 10,058.

Among the top Sensex gainers: Bharti Airtel rose 3.8 percent, Mahindra & Mahindra added 2 percent, Bajaj Auto gained 1.9 percent while Axis Bank advanced 1.4 percent.

Bharti Airtel was the top Sensex gainer while Bharti Infratel also rose 3 percent.

A consortium led by U.S. buyout fund KKR and comprising Canada Pension Plan Investment Board, Abu Dhabi Investment Authority and GIC Singapore is in discussions to acquire Indus Towers and telecom tower company Bharti Infratel for $11 billion, the Economic Times reported.

GM Breweries Ltd surged 20 percent after the company reported 41 percent jump in its net profit for September quarter.

Sical Logistics gained about 7 percent after the company approved buying MMTC's 26 percent stake in arm Sical Iron Ore.

PSP Projects rose 7 percent after winning an order worth Rs 1,575 crore from Surat Diamond Bourse.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

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