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

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Updated: January 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.

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