Telecom stocks shine on BSE; RCom, Airtel top gainers

Led by Reliance Communications (R-Com) and Bharti Airtel, telecom stocks today rallied on the BSE, helping the broader market close with gains.

By the end of the trade, the telecom pack had performed remarkably well on the Bombay Stock Exchange, and analysts attributed the upsurge to keen investor interest in the sector following rise in telecom stock globally.

Anil Ambani-led R-Com grabbed the top slot in the BSE Sensex pack and surged 5.28 per cent to close at Rs 166.45. During the day, the telecom major rose 6.70 per cent to touch intra-day high of Rs 168.70.

Similarly, Bharti Airtel closed at Rs 357.90, reflecting a gain of 2.93 per cent, after touching intra-day high of Rs 359, up by 3.24 per cent.

Mobile operator Idea Cellular too edged higher by 3.87 per cent to Rs 77.80.

Other telecom companies also ended the day with gains, including MTNL, which was up 1.19 per cent at Rs 63.85 and Tata Communications, 0.32 per cent at Rs 333.

The BSE-30 share index barometer Sensex ended the session 0.91 per cent higher, or 177.26 points up, at 19,594.75.