Sensex, Nifty trade flat; Bharti Airtel, RIL top gainers, Vodafone Idea tanks 39% post SC verdict

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Published: January 17, 2020 10:26:06 AM

At 10.10 AM, the S&P BSE Sensex was trading 68 points or 0.16 per cent higher at 42,001 points, while broader Nifty50 index was ruling at 12,373 points, up 18 points or 0.14 per cent.

At 10.10 AM, the S&P BSE Sensex was trading 68 points or 0.16 per cent higher at 42,001 points, while broader Nifty50 index was ruling at 12,373 points, up 18 points or 0.14 per cent..

Domestic equity indices Sensex and Nifty were trading flat on Friday as investors waited for further cues post-signing of US-China initial trade deal. On Thursday Supreme Court dismissed a review petition filed by telecom companies seeking relief from the Adjusted Gross Revenue (AGR) verdict after which the shares of Vodafone Idea tanked as low as 39.30 per cent to trade at Rs 3.66 apiece on BSE.

At 10.10 AM, the S&P BSE Sensex was trading 68 points or 0.16 per cent higher at 42,001 points, while broader Nifty50 index was ruling at 12,373 points, up 18 points or 0.14 per cent. After the apex court’s judgment, Bharti Airtel gained the most, up over 3 per cent, followed by Reliance Industries, Hero MotoCorp, Mahindra and Mahindra (M&M), and HCL Tech, each up 1 per cent, Conversely, IndusInd Bank, State Bank of India (SBI), HDFC Bank and Sun Pharma, were among top losers on the Sensex pack.

Among sectoral indices, Nifty Auto index was trading higher with the gains in MRF, Bosch, Apollo Tyres and Her MotoCorp. While Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Private Bank and Nifty Realty index were trading in the red. The broader market continued with their good run. S&P BSE MidCap index has gained 56 points or 0.36 per cent to trade at 15,681, while S&P BSE SmallCap was ruling at 14,709 points, up 61 points or 0.42 per cent.

The quarterly earnings of two Nifty heavyweights RIL and TCS and another index constituent HCL Tech are scheduled to be released during the day today. On Wall Street, the S&P500 index topped the 3,300 mark for the first time on Thursday, driven by a slew of strong earnings reports and economic data. All three benchmarks closed at record highs. The Dow Jones Industrial Average index jumped 267.42 points, or 0.92 per cent, to close at 29,297.64 while the S&P500 index surged 27.52 points, or 0.84 per cent, to 3,316.81.

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