Sensex, Nifty touched yet new highs; Telecom though tumbled

new plan only intensified the tariff war in the telecom sector

Sensex, Nifty touched yet new highs; Telecom though tumbled

Benchmark indices Sensex and Nifty 50 touched yet another highs on Wednesday.

The spike was fueled by yet another session of unabated buying by participants and healthy corporate results.

Telecoms stocks could not support the market as they tumbled up to 6.5 percent after Reliance Jio decided to offer extra data on some plans.

The new plan only intensified the tariff war in the telecom sector.

In intraday trade, Sensex rose to an all-time high of 36,268.19, while Nifty hit a fresh record of 11,110.10.

Among the sectoral indices on BSE, telecom suffered heavy losses at 3.54% followed by consumer durables and metal.

Again Information Technology as well as Public Sector Unit bank stocks led the gains.

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