MARKETS: Sensex falls 400 pts; RIL tanks 4%, Paytm 8%; Airtel up 5%
Opening Bell
The Nifty50, on the other hand, gave up 17,700-mark, down 87 points.
Shares of RIL dropped 4 per cent after the company, late on Friday, called-off the deal with the global oil giant Saudi Aramco for a 20 per cent stake acquisition by the Saudi firm in the oil to chemicals (O2C) business of the former company.
On the upside, Bharti Airtel shares advanced 5 per cent after the telecom major revised tariff on prepaid talk-time plans earlier today by 20-25 per cent and data top-up plans by 20-21 per cent.
Here, Paytm shares fell another 7.5 per cent in early deals after the company’s monthly business update. READ MORE
Sectorally, all the indices were in the red, led by Realty index (down 2.5 per cent) and Auto index (1.4 per cent).
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Pre-open session
LIVE market updates: Benchmark indices were in the green in pre-opening session. The BSE Sensex was at 59,647 levels, up 11 points at 9:06 AM while the Nifty50 was at 17,767-mark.
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Updated at 8:20 AM
LIVE market updates: Markets are eyeing a flat but positive start on Monday after an extended weekend. Relative to Nifty50’s spot close of 17,765 on Thursday, the SGX Nifty Futures were at 17,778 at 8:10 AM
Individually, Reliance Industries is likely to hog the limelight and may dictate the market trend today, after the company decided to shelve its $15 billion Saudi Aramco deal. Analysts suggest that the move may be a minor setback for the stock.
Primary Market Update
At the end of Day 2, Go Fashion (India) IPO was subscribed 6.87 times, with retail quota receiving bids up to 24.6 times. The issue will close later in the day.
Global cues
China’s Shanghai Composite soared 1.1 per cent, and Kospi jumped 0.7 per cent. Taiwan, Hang Seng and Straits Times were marginally up, while Nikkei was down 0.4 per cent.
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