Sensex, Nifty Flat As Markets Move In Tight Range Amid Volatile Trade
Here are 10 things to know about the movement in domestic share markets (Sensex and Nifty) today:
- At 2:59 pm, the Sensex traded 61.17 points - or -0.15 per cent - lower at 40,590.47 while the Nifty was at 11,970.90, down 28.20 points (0.24 per cent) from the previous close. (Track Sensex, Nifty here)
- Top percentage gainers on the Nifty 50 index at the time were Zee Entertainment, Eicher Motors, Adani Ports, Larsen & Toubro and Dr Reddy's - up between 1.10 per cent and 11.60 per cent. On the other hand, Bharat Petroleum, Tata Steel, Bharti Airtel, Coal India and GAIL, down between 2.29 per cent and 5.02 per cent, were the top losers on the index.
- HDFC Bank, ICICI Bank and Larsen & Toubro were the top contributors to the gain in Sensex, whereas ITC, Reliance Industries and Axis Bank were the top drags.
- The India VIX index on the National Stock Exchange jumped as much as 2.87 per cent on Thursday. The index measures the market's expectation of volatility in the near term.
- The government on Wednesday allowed telecom service providers to defer payments towards dues for airwaves bought via auction until the end of March 2022. That offered some relief to the companies reeling under piles of debt and hurt by the Supreme Court ruling that they must pay overdue levies and interest of Rs 92,000 crore.
- Bharti Airtel shares fell as much as 3.38 per cent and Vodafone Idea 12.16 per cent during the session. Analysts said the deferred payment will provide only a temporary relief to the debt-laden sector.
- “Adjusted gross revenue (AGR) total waiver should be the biggest lifeline for telecom operators along with this,” said AK Prabhakar, head of research at IDBI Capital.
- Zee Entertainment Enterprises shares jumped 15 per cent after Essel Group on Wednesday said it is planning to sell a 16.5 per cent stake in the company to financial investors in order to repay loan obligations to certain lenders of the group.
- The government agreed to sell stakes in Bharat Petroleum and four other state-run enterprises, in a move that could help bridge a widening fiscal gap. Shares fell as much as 3.18 per cent to Rs 527.35 apiece on the BSE in morning deals.
- The Sensex and Nifty had risen nearly 1 per cent each in the past two days.
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