Market Highlights: Sensex falls 200 points, Nifty trades at 12,170; Tata Steel biggest loser on BSE

By: |
Updated:Jan 22, 2020 7:49:35 am

The International Monetary Fund (IMF) has called sharp slide in consumption in the Indian market as a drag on world economy and reduced growth forecast to 4.8 per cent for the year 2019. The IMF projected India’s economy to grow by 5.8 per cent in FY 2020-21 and 6.5 per cent in FY 2021-22.

BSESensex closed the day losing 416 points at 41,528.91

Market LIVE: Equity benchmarks Sensex, Nifty traded in red through the day on Tuesday. At the closing bells, S&P BSE Sensex was trading at 41,324 with a decline of declined 205 points while Nifty 50 was trading at 12,170 losing 54 points.  The Supreme Court on Tuesday agreed to hear the modification pleas filed by telecom companies Bharti Airtel, Vodafone Idea and Tata Teleservices seeking more time to pay AGR (adjusted gross revenue) dues. After this, the shares of Vodafone Idea surged as high as 17.90 per cent to hit an intraday high of Rs 5.73 apiece on BSE on Tuesday. Meanwhile, Bharti Airtel was trading 0.05 per cent lower at Rs 509 and shares of Bharti Infratel were up 6.85 per cent at Rs 237.05 on the BSE. The shares of the Vodafone Idea had tumbled 39.30 per cent to Rs 3.66 per cent on Friday after the apex court dismissed the review petition filed by the telcos against AGR verdict. The latest order by the apex court opens the door for negotiations between the government and the telecom companies.

The International Monetary Fund (IMF) has called a sharp slide in consumption in the Indian market as a drag on the world economy and reduced growth forecast to 4.8 per cent for the year 2019. The IMF projected India’s economy to grow by 5.8 per cent in FY 2020-21 and 6.5 per cent in FY 2021-22. Zomato has acquired the Indian venture of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the food delivery service app. Subsequently, Uber Eats will shut shop in India and all direct restaurants, delivery partners, and users of the Uber Eats apps will ideally be taken over by Zomato effective Tuesday.

Live Blog

Highlights

    15:27 (IST)21 Jan 2020
    Budget 2020: FM Nirmala Sitharaman likely to ease rules to help companies boost foreign borrowings

    Budget 2020 India: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home. Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

    Full story

    15:26 (IST)21 Jan 2020
    Pakistan beats India in this fairness test: Check how the two nations fare in global ranking

    Despite having better economic growth and privileges, India was not able to move past Pakistan in the fair wage distribution. Out of 82 countries, India ranks 79 while Pakistan ranks 76 in the fair wage distribution, said World Economic Forum’s Social Mobility Report 2020.

    Full story

    15:25 (IST)21 Jan 2020
    India’s growth slowdown has hit global economy; IMF tells why world must sit up and take note

    The sharper than expected slowdown in the Indian economy and other emerging economies pulled down the global growth forecasts for 2020, January’s World Economic Outlook update by International Monetary Fund (IMF) said.

    Full story

    13:31 (IST)21 Jan 2020
    Vodafone Idea shares surge in trade

    Vodafone Idea share price today surged as much 17% in early morning trade, after the Supreme Court admitted the telecom companies plea seeking more time to pay AGR dues. In the afternoon trade, Vodafone Idea shares were holding onto the gains, and were trading 15.5% higher at Rs 5.60 on NSE.

    Check Live Prices Here: Vodafone Idea | Bharti Airtel | Sensex | Nifty

    13:05 (IST)21 Jan 2020
    AGR dues: Telecom stocks mixed after SC accepts fresh pleas

    Shares of telcos’ on Tuesday were trading mixed after the SC agreed to list next week telecom firms’ fresh pleas, seeking a fresh schedule of payment of statutory dues to the DoT.

    Full story

    11:43 (IST)21 Jan 2020
    Rupee slips against US dollar on Tuesday tracking weak domestic equity market

    The rupee opened weaker against the US dollar on Tuesday tracking weak domestic equity market and a rise in crude oil prices in the international market.

    Full Story

    11:41 (IST)21 Jan 2020
    Shaktikanta Das brings in historic change; RBI meetings will now be more trasnparent

    In a bid to improve public awareness about the functioning of RBI and bring accountability to the directors, governor Shaktikanta Das has ordered to disclose minutes of the meeting of RBI central board directors.

    Full story

    11:19 (IST)21 Jan 2020
    Gold prices jump over Rs 150 on Tuesday as IMF cuts growth outlook for India

    Gold prices jumped in the future markets on MCX as a new strain of pneumonia in China could hamper economic growth. Also, theInternational Monetary Fund (IMF) has trimmed its 2019 growth forecast for India to 4.8 per cent from its October projection of 6.1 per cent.

    Full story

    10:24 (IST)21 Jan 2020
    Sensex drops 100 points, Nifty below 12,250; Vodafone Idea jumps 16%, M&M drops over 1%

    Benchmark indices Sensex and Nifty opened lower on Tuesday as the International Monetary Fund (IMF) revised its 2019 growth forecast for India to 4.8 per cent from its October projection of 6.1 per cent. 

    Full story

    Check live Sensex, Nifty level

    09:51 (IST)21 Jan 2020
    Govt mulls US-like equity support for ‘top 20’ NBFCs

    The Centre is considering a proposal on the lines of TARP — the US’ Troubled Asset Relief Programme for the beleaguered financial sector during 2008 financial crisis — to invest in equity of ‘top twenty’ non-banking financial companies (NBFCs) to boost their lending capacity. 

    Full story

    09:50 (IST)21 Jan 2020
    FY20 Forecast: IMF cuts India growth estimate sharply to 4.8%

    Offering an update on the global economy on the eve of the World Economic Forum (WEF) annual summit in Davos, the multilateral body said India’s growth would be just 5.8% in FY21 (much lower than the 7% reported earlier), and then rise to 6.5% in the year after that, supported by monetary and fiscal policy stimulus.

    Full story

    Check live Nifty, Sensex levels

    09:49 (IST)21 Jan 2020
    More misses than hits; here’s how the ‘winners’ from FM Sitharaman’s first budget have fared

    From banks to farmers to the property market, the gains from India’s budget in July haven’t yet panned out as expected. In her maiden budget six months ago, Finance Minister Nirmala Sitharaman pledged to boost revenue collection by 13%, narrow the fiscal deficit to 3.3% of gross domestic product and spur the economy to $3 trillion by March.

    Full story

    08:45 (IST)21 Jan 2020
    Zomato acquires Uber Eats business in India

    Zomato on Tuesday said it has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the Indian food delivery and restaurant discovery platform. Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said.

    Full story

    Next Stories
    1Analyst Corner: Retain ‘sell’ on ICICI Lombard with fair value of Rs 825
    2Analyst Corner: Maintain ‘buy’ on HDFC Bank with PT of Rs 1,500
    3Sensex touches fresh high, then slumps 416 points on tepid Q3 results, profit-booking