Market Highlights: SC rejects telecos plea seeking AGR relief; Nifty touches lifetime high

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Updated:Jan 16, 2020 7:03:44 pm

Supreme Court has issued a new deadline of 23 January 2020, for the telecom firms to clear their license fee dues.

Sensex had ended trading hours on Wednesday at 41,872.73.

Market Highlights: Supreme Court has rejected the review petition of telecom companies seeking relief on interest and penalty payment related to AGR (adjusted gross revenue) case. The court has also issued a new deadline of 23 January 2020, for the firms including Bharti Airtel and Vodafone India, to clear their license fee dues. Meanwhile, equity benchmarks Sensex, Nifty had breached all-time high levels for a brief period of time before hitting a slump. The Sensex was trading at 41,932.56 jumping 59.83 points at the time of closing bells. Nifty was trading flat at 12,356.25 with a growth of 0.09 per cent at the end of the day. Nestle India holds the top position the Sensex pack and trading at 15,379 with a growth of 3.44 per cent while NTPC pushed to the bottom with a loss of 2.26 per cent. Eicher Motors topped the Nifty 50 index with 4.36  per cent growth while GAIL slumped to the bottom on NSE  2.20 per cent loss. Global markets have scaled new peaks on Thursday as the United States and China agreed to sign a deal to bring about a truce in their 18-month trade war. MSCI’s broadest index of world stocks firmed 0.04% in early trade after closing at a record level on Wednesday while its index of Asia-Pacific shares outside Japan rose 0.10%. Japan’s Nikkei jumped 0.14% while Australian shares were trading 0.6% higher.

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Highlights

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    14:20 (IST)16 Jan 2020
    Private firms still away from infra investments; only 5 industries absorb two-third capital

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    11:22 (IST)16 Jan 2020
    Rupee trades marginally higher as US, China announce an initial trade deal

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    11:21 (IST)16 Jan 2020
    Gold trades flat on Thursday as US-China phase one trade deal concludes

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    09:34 (IST)16 Jan 2020
    Centre should infuse Rs 1.5-2 lakh crore into the economy: FICCI president Sangita Reddy

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    09:33 (IST)16 Jan 2020
    Data analysis helps: Govt saves Rs 350-crore fake IGST refund; exporters not traced

    The government has found that over 1,200 exporters are untraceable at their given addresses after it undertook an investigation on the basis of data analysis that threw up inconsistencies in refund claims. These exporters had claimed over Rs 350 crore in refunds, which have now been halted, top revenue department officials said.

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    09:32 (IST)16 Jan 2020
    December data: Power use shrinks for fifth month

    Electricity consumption slipped 0.4% y-o-y to 100.2 billion units (BUs) in December — fifth straight month of contraction and mirroring persisting stress in the industrial sector amid an acute economic slowdown. At just 1.1%, growth in power consumption in the first three quarters of FY20 was the lowest at least since FY07.

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