Market remains subdued, Nifty shy of 8900; Bharti Infratel up 5%


The Sensex was down 93.18 points at 28746.61, while the Nifty was down 29.25 points at 8870.50.

 The market breadth indicated strain with about 1,098 shares having advanced, 1,397 shares declined. Meanwhile, 138 shares were unchanged.

Reliance and Bharti Infratel rallied on the back of positive feedback from brokerages, while Asian Paints and HDFC were the top losers.

Shares of Reliance Industries clocked its fresh 52-week high, driven by positive observations by analysts about the company’s prospects as well as the stock. The scrip rose over 4 percent intraday. Analysts are upbeat on the stock for a variety of reasons ranging from high-average revenue per user (ARPU) users target to cut in glitches.

A2Z Infra Engineering gained 6.7 percent intraday as it has been awarded a contract worth USD 70,66,613.41. The contract has been awarded by Grid Solar and Energy Efficiency Project, Nepal Electricity Authority for design, supply, delivery, installation, testing and commissioning of 33/11 KV substations and 33 KV lines, for the contract price aggregating to USD 7,066,613.41.

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