Sensex Falls Over 90 Points Amid Volatile Trade, Nifty Moves Away From 12,000

Stock Market LIVE: Top losers on the 50-scrip index - Nifty 50 - were Bharti Infratel, Bharti Airtel, Bharat Petroleum, ONGC and Coal India.

Sensex Falls Over 90 Points Amid Volatile Trade, Nifty Moves Away From 12,000

BSE Sensex Today: Reliance Industries, Axis Bank, ITC and Airtel were the top drags on the index

Domestic stock markets suffered losses after a positive start on Thursday amid volatile trade, following a two-day winning run. The S&P BSE Sensex index fell as much as 93.1 points to hit 40,558.54 on the downside, and the broader NSE Nifty index dropped to as low as 11,965.05, down 34.05 points from the previous close. Losses in financial, metal and energy stocks pulled the markets lower however gains in IT and media shares provided some support. The government on Wednesday approved stake sales in five public sector companies including Bharat Petroleum, in a move that could help bridge a widening fiscal gap.

Here are 10 things to know about the movement in stock markets (Sensex and Nifty) today:

  1. At 10:29 am, the Sensex was down 52.66 points - or 0.13 per cent - at 40,598.98 while the Nifty was at 11,982.30, down 16.80 points (0.14 per cent) from the previous close. (Track Sensex, Nifty here)

  2. Top percentage laggards on the Nifty 50 index at the time were Bharti Infratel, Bharti Airtel, Bharat Petroleum, ONGC and Coal India, down between 1.26 per cent and 3.24 per cent.

  3. On the other hand, Zee Entertainment, Adani Ports, Larsen & Toubro and HCL Tech - up between 0.91 per cent and 7.10 per cent - were the top Nifty gainers.

  4. Reliance Industries, Axis Bank, ITC and Bharti Airtel were the top drags on the Sensex.

  5. 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.

  6. Bharti Airtel shares fell as much as 2.26 per cent and Vodafone Idea 12.16 per cent in early trade.

  7. 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.

  8. 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. 

  9. 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.

  10. The Sensex and Nifty had risen nearly 1 per cent each in the past two days. 



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