Indian equity benchmarks edge higher

Indian equity benchmarks edge higher

19 Nov 2019 11:58 AM

Indian equity indices inched higher on Tuesday, driven by banking and telecom stocks after two major mobile network service providers said they planned to raise tariffs from next month.

The NSE Nifty 50 index rose 0.36% to 11,927.25, while the S&P BSE Sensex gained 0.38% to 40,435.26.

The Nifty main index has risen over 12% since hitting a six-month low mid-August, supported by government measures to boost investor confidence as Asia's third-largest economy faces slowdown.

On Monday, Bharti Airtel and Vodafone Idea said they would increase mobile tariffs from December, after posting record quarterly losses. Airtel shares rose 4.8% and were among the top gainers in the Nifty index, while Vodafone shares jumped 18%.