MarketExpress live: Reliance Communications shares tank over 10% after Aircel merger deal collapses; Rupee slips 21 paise

By: | Updated: October 3, 2017 6:22 PM

BSE Sensex advanced 254 points to open at 31,537.81 points while NSE Nifty added 104.7 points to start at 9893.3 points. The two-day bi-monthly policy meeting of the Reserve Bank of India will be starting from today.

Bombay Stock Exchange building. (Image: Wikimedia Commons)

Sensex and Nifty opened higher on Tuesday following the positive cues from the Wall Street’s record closing on Friday last week. BSE Sensex advanced 254 points to open at 31,537.81 points while NSE Nifty added 104.7 points to start at 9893.3 points. The two-day bi-monthly policy meeting of the Reserve Bank of India will be starting from today. The outcome of RBI policy meeting, macroeconomic data points and investment trend of overseas investors will guide the Indian stock markets this week. Foreign institutional investors pulled out over Rs 11,000 crore from stock markets in September. US stocks started the fourth quarter on a strong note on Monday, with all three major indexes hitting record high closes as data pointed to underlying strength in the economy.

6.04 pm: Reliance Communications’ lenders in a huddle after Aircel merger collapses; keen to see Brookfield deal through: Reliance Communications’ lenders are now staring at a possible haircut of Rs 6,000 crore in their outstanding loans to the company as its merger with Aircel has collapsed.

5.30 pm: ONGC’s new Chairman Shashi Shanker: The man who set the world record for drilling deepest water well: Shashi Shanker, the man under whose leadership exploration giant ONGC set the world record by drilling the deepest deep-water well, has taken over as the company’s chairman and managing director.

5.30 pm: Rupee slips 21 paise to settle at 65.49 against US dollar: The Indian rupee recovered marginally in late afternoon trade but closed lower after falling sharply in the opening session on the first trading day of the third quarter of the financial year 2017-2018.

4.32 pm: Sensex jumps over 200 points to finish near 31,500; all eyes on RBI’s monetary policy: Sensex and Nifty closed higher on Tuesday for the third consecutive day pushed by the robust September sales of major automakers such as Tata Motors.

3.14 pm: Amber Enterprises files Rs 555-cr IPO papers with Sebi Appliance maker: Amber Enterprises has filed preliminary papers with Sebi to raise Rs 555 crore through an initial share-sale offering, according to draft prospectus filed with the markets regulator.

2.07 pm: RBI monetary policy tomorrow: Why RBI should cut rates but here’s why it won’t: The Reserve Bank of India has many reasons, as experts say, to cut rates at its bi-monthly Monetary Policy Committee (MPC) meeting on Wednesday, but the central bank has one major reason to not cut rates.

2.06 pm: Missed SBI Life IPO? Buy it now for long-term gains: 5 reasons to bet on it:  Did you miss to subscribe for shares of the largest public offer in last seven years — SBI Life Insurance — if yes, then you might need not worry, as you can buy it in the open market for long-term gains.

12.19 pm: These stocks surged 400% since January: Best performers among global peers and Indian industrial companies: Graphite India Ltd. and HEG Ltd. are up more than 400 percent since the start of January, making them the best performers among global peers and Indian industrial companies.

12.18 pm: SoftBank Group invests in Ola again despite reporting loss: 4 things to know: India’s ride-hailing company Ola has secured $2 billion in new funding from a group of investors including SoftBank Group Corp despite causing valuation loss to the latter in for the financial year ending March 2017.

10.50 am: RCom shares tumble 7% after merger with Aircel scrapped; to revise mobile tower deal with Brookfield: Reliance Communication Ltd’s shares tumbled over 7.8% in an early trade on Tuesday after the company called off a proposed merger with rival Aircel.

10.50 am: Rupee makes a weaker start to third quarter; plunges 33 paise against dollar: The Indian rupee dropped sharply on the very first trading day of the third quarter of the financial year 2017-2018.

10.03 am: SBI Life shares list at 5% gain on stock market debut to issue price of Rs 700: Shares of SBI Life Insurance made a strong debut on stock exchanges on Tuesday after the insurer recently completed its Rs 8,400 crore IPO in September.

9.42 am: Sensex tops 31,600 ahead of RBI’s policy meet; Tata Motors jumps nearly 7%Sensex and Nifty opened higher on Tuesday following the positive cues from the Wall Street’s record closing on Friday last week. Tata Motors was the biggest gainer on Sensex after the automaker posted a 25% increase in domestic sales at 53,965 units in September.

8.50 am: Stocks of Maruti Suzuki, Hero MotoCorp, Tata Motors, Bajaj Auto, DLF, Eicher Motors, TCS will be in focus todaySensex and Nifty are likely to open higher on Tuesday following the record closing of Wall Street stocks on Friday.

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