Indian equity indices open in green post Ease of Doing Business ranking

Key Highlights

• India entered top 100 ranking under Ease of Doing Business index.
• Airtel gained as much as 4% in pre-trading session on BSE Sensex.
• IndiGo were trading 3.09% up at Rs 1282.80 per share on BSE Sensex.

Key Indian equity indices opened in green on Wednesday after India entered the top 100 ranking of the Ease of Doing Business Index for the first time ever. BSE Sensex opened 0.39% or 131 points higher at 33,344.23 points. The bigger 50-scrip Nifty index also opened 0.53% or 55 points up at 10,390.35 points.

In pre-market trading Nifty was trading 0.27% or 28.35 points lower at 10,335.30 points. While Sensex had crossed the 33,000 point mark.

Gainers in early trade session on Sensex were Sanofi that was trading 11% higher at Rs 4,657.25 a piece and Syndicate bank that was up 10.25% to trade at Rs 90.90 a share in early trade session.

All eyes on Hero MotoCorp and Tech Mahindra that will announce second quarter earnings on Wednesday. Companies will also announce auto sales figures for the month of October.

India’s SGX Nifty 50 Index futures for November delivery rose 0.4% to 10,416.00 points. The index had dropped 0.3% on Tuesday to 10,335.30 points as investors continued to assess company earnings, a Bloomberg report said. November has been a month of decline for Nifty as the gauge has had seven losses for the month in the last ten years, the report added.

After announcing results on Tuesday, Bharti Airtel shares opened at 3.63% or 18.05 points higher at Rs 515.70 per share on BSE Sensex. Airtel's Q2 net income stood at Rs 343 crore. Its profit dropped 64% to Rs 586.1 crore while blended ARPU was at Rs 145.

Shares of IndiGo were trading 3.09% or 38.50 points up at Rs 1282.80 per share on BSE Sensex. The company reported a surge in profit to Rs 552 crore. Pratt & Whitney, Airbus SE compensation helped IndiGo beat profit estimates.

However, shares of Blue Star were trading 2% or 16 points lower at Rs 789.95 a piece on Sensex. It had reported Q2 net income of Rs 20.78 crore.