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Reliance Jio Phone, late recovery in other stocks lift Sensex; Nifty ends above 9,900 again

Reliance Jio Phone, late recovery in other stocks lift Sensex; Nifty ends above 9,900 again

Reliance Industries JioPhone, cable TV launch, late recovery in other stocks and Wipro’s share repurchase lead the domestic markets to close higher on Friday. BSE Sensex gained over 100 points to close above 32,000 while NSE Nifty rose over 40 points to settle above 9,900.

Mukesh Ambani’s JioPhone, cable TV dent telecom, media stocks; Airtel slips 4%, Idea trips 7%
Mukesh Ambani’s JioPhone, cable TV dent telecom, media stocks; Airtel slips 4%, Idea trips 7%

Shares of telecom companies dive on Friday after Mukesh Ambani launched the JioPhone at the Reliance Industries Annual General Meeting 2017. Investors sentiment soured as there may be possibilities that the new JioPhone may dent the businesses of the existing telecom and cable TV operators.

Horoscope: By Peter Vidal

Today ( 22 Jul )This Week ( 16 Jul - 29 Jul )

SAGITTARIUS Your creative energy should now be at a peak, but not perhaps because the stars are all on your side. On the contrary, challenging romantic stars remind us of the cliché that all great art stems from… read more