Market HIGHLIGHTS: Sensex slumps 200 points, Nifty trades at 12,100 to finish day; Nestle rides high on BSE

By: |
Updated:Jan 22, 2020 7:02:09 pm

Bharti Airtel will be one of the stock to watch out for on Wednesday as the Department of Telecom (DoT) has approved raising FDI limit up to 100 per cent, from the existing 49 per cent.

Sensex had finished trading at 41,328.81, losing 205 points on Tuesday.

Market HIGHLIGHTS: Equity benchmarks Sensex, Nifty traded in red through the day on Wednesday. Sensex slumped 208 points or 0.50 per cent and was trading at 41,115.38 while Nifty saw a dip of 63 points or 0.62 per cent to trade at 12,106.90. Nestle India with a growth of 1.86 per cent topped the 30-stocks Sensex pack while ONGC slumped to the bottom on the BSE with a loss of 5.13 per cent. Bharti Airtel had hit a 52-week high of 524 which is the highest level since its all-time high of 527, achieved in October 2007 as the Department of Telecom (DoT) has approved raising FDI limit up to 100 per cent, from the existing 49 per cent. Bharti Airtel also has the approval of the RBI that allowed foreign investors to hold up to 74 per cent stake in the company. “Bharti Airtel Limited has received the approval from the Department of Telecommunications (DoT) vide its letter dated January 20, 2020, for increasing the limit of foreign investment up to 100 per cent of the paid-up capital of the company,” the filing said.

Live Blog

Highlights

    14:04 (IST)22 Jan 2020
    Two-decade wait set to end; Modi’s ‘Make in India’ to get new industrial policy boost soon

    As the government is set to introduce the new industrial policy after two decades, it is looking for new and specific inputs for a “wider” focus, The Indian Express reported. The last industrial policy was implemented in 1991.

    Full story

    14:00 (IST)22 Jan 2020
    Telecom crisis may leave long lasting scars on Indian economy; 5G might get delayed too

    India’s great telecom melee was bad enough as a brawl between service providers and the state, with operators complaining about the government’s outlandish claims on their past revenue.

    Full story

    13:59 (IST)22 Jan 2020
    After IMF, this rating agency expects India’s GDP growth to be muted; these risks may remain

    India’s GDP is expected to grow at 5 per cent, in line with the CSO’s estimates for FY20, a rating agency said. The gross domestic product (GDP) may grow at 5.5 per cent in FY21, however, the downside risks are expected to remain, India Ratings and Research (Ind-Ra) also said. 

    Full story

    13:57 (IST)22 Jan 2020
    Oil stocks trade lower

    ONGC, Oil India, Coal India have lost more than 4 per cent while IOCL dipped 1-3 per cent in intraday trade. Oil India and IOCL have hit their 52-week low although Crude oil is trading lower in world markets.

    11:12 (IST)22 Jan 2020
    Billions of dollars for Indian stocks await government’s FPI policy tweak from April 1

    The Indian stock market is set to see billions of dollars of inflows after a policy tweak comes into effect on April 1, analysts predict. The nation will increase the foreign portfolio investment limit in a company from the current 24% to a higher threshold set for its sector.

    Full story

    11:12 (IST)22 Jan 2020
    Rupee rises against US dollar on easing crude oil prices

    The rupee appreciated by 3 paise to 71.18 against the US dollar in early trade on Wednesday as easing crude oil prices and gains in domestic equity market lift investor sentiments. 

    Full story

    11:10 (IST)22 Jan 2020
    Sensex jumps over 200 points, Nifty reclaims 12,200 in opening session; Infosys rides high on BSE

    Market benchmark Sensex jumped over 200 points on Wednesday tracking gains in index heavyweights HDFC twins, Infosys and Reliance Industries as global stocks recovered from the previous day’s losses.

    Full story

    Check live Sensex, Nifty levels

    10:30 (IST)22 Jan 2020
    Havells slumps to 52-week low

    Shares of Havells plummeted to a 52-week low of 588.50 on the back of weak revenue generation in Q3. Havells had released its Q3 numbers after the trading hours on Tuesday and posted a 10 per cent decline in revenue at Rs 2,270 crore. 

    Check Live Sensex, Nifty levels

    10:12 (IST)22 Jan 2020
    Bharti Airtel touches 52-week high

    Shares of Bharti Airtel surged as high as 2 per cent to 524 apiece, the highest level since October 2007 when it traded at 527.

    Check live Sensex, Nifty level

    09:39 (IST)22 Jan 2020
    Rethinking India’s economic strategy: Needs for concise document of objectives and priorities

    India faces enormous problems in delivering promises of improving the material well-being of its people. Comparisons with China’s economic performance over the last few decades make clear the opportunities that India has missed.

    Full story

    09:26 (IST)22 Jan 2020
    HDFC AMC posts 45% growth in net in Q3

    HDFC Asset Management Company (AMC) posted a 45% increase in its net profit to Rs 352.5 crore for three months ended December, 2019, on the back of higher total income and lower expenses. The quarter average assets under management (QAAUM) stood at Rs 3.82 lakh crore as on December 31, 2019, compared to Rs 3.35 lakh crore as on December 31, 2018, a growth of 14%.

    Full story

    09:25 (IST)22 Jan 2020
    Mini-economic crises looming: India’s stagflation spreads to other emerging markets

    India may be witnessing the most glaring setback among emerging economies, but its double pain of slowing growth and surging inflation is spreading far and wide. While a debate rages over whether the latest data from India points to “stagflation,” a sixth successive quarter of economic deceleration and fifth consecutive jump in price growth are threatening “buy India,” one of the most popular emerging-market trades of the last decade. They’re also symptomatic of how developing nations, as a whole, may be losing steam.

    Full story

    09:24 (IST)22 Jan 2020
    Inflation spike temporary, may not warrant a rate hike, says former RBI governor C Rangarajan

    The monetary policy committee (MPC) of the Reserve Bank of India (RBI) may keep policy interest rates unchanged in the forthcoming policy review, former RBI governor C Rangarajan told FE. 

    Full story

    09:24 (IST)22 Jan 2020
    Cause for worry! Direct tax collections down 5% till January 15

    In what amplified the worries over the government’s ability to stick to the fiscal consolidation path, direct tax collections till January 15 stood at Rs 7.3 lakh crore, down 5.2% from the year-ago period. There is no precedent of a contraction in direct tax growth at least in recent history.

    Full story

    Next Stories
    1Securitisation volume to reach all-time high by end of FY20: Icra
    2HDFC AMC posts 45% growth in net in Q3
    3NSE becomes world’s largest derivatives exchange by number of contracts traded