Sensex Rises as Telecom Stocks Gain

November 16, 2012 5:04 AM GMT

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(Photo: Reuters)<br>BSE Sensex
(Photo: Reuters)
BSE Sensex

Asian shares steady on Friday after falling nearly 2 percent this week on worries about the looming U.S. "fiscal cliff".

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Telecom shares extend gains after a tepid demand in a 2G airwave auction raises hopes for lower prices: Bharti Airtel (BRTI.NS) gains 1.6 percent, while Idea Cellular (IDEA.NS) advances 1.2 percent.

Some recent under-performers gain on short-covering: Infosys gains 1.1 percent after falling 2.8 percent so far this month as of Thursday's close.

Copyright 2012 Thomson Reuters. All rights reserved.
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