Nifty reclaims 8,550; Bharti Airtel up 2%, Nestle India rises 5%

Benchmark share indices continued to trade higher led by IT majors on the back of a weakening rupee while Bharti Airtel rallied after robust first quarter earnings.

At 10:30AM the 30-share Sensex was up 214 points at 28,286 and the 50-share Nifty was up 62 points at 8,579   Free Share Tips

"The trend deciding level for the day is 28,068 / 8,510 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 28,269 – 28,466 / 8,572 – 8,627 levels. However, if NIFTY trades below 28,068 / 8,510 levels for the first half-an-hour of trade then it may correct towards 27,870 – 27,669 / 8,455 – 8,393 levels," Angel Broking said in a note.

Foreign portfolio investors were net buyers in equities to the tune of Rs 119 crore, as per provisional stock exchange data Nifty Trading Tips

The Indian rupee was trading lower at 63.84 to the US dollar compared to the previous close of 63.74 after the dollar firmed up against other currencies on the prospects of rate hike by the US Fed.