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Sensex, Nifty end in red amid volatility, Bharti Airtel down 8%
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SME Times News Bureau | 23 Sep, 2020
The Indian stock market settled on a flat-to-negative note after a
largely volatile trading session, with the BSE Sensex closing 65 points
lower.
The indices gradually traversed into negative territory
after a gap-up opening, before paring losses and ending marginally
lower. The Indian equity indices ended in the red for the fifth
consecutive session on Wednesday.
The BSE Sensex closed at 37,668.42, lower by 65.66 points, or 0.17 per cent, from the previous close of 37,734.08.
It had opened at 38,124.94 and touched an intra-day high of 38,140.07 and a low of 37,313.09 points.
The
Nifty50 on the National Stock Exchange settled at 11,131.85, lower by
21.80 points, or 0.2 per cent, from its previous close.
Among the sectoral indices, heavy selling was witnessed in the BSE Telecom index which was down 7.36 per cent.
Telecom
major Bharti Airtel's shares declined the most on the Sensex on
Wednesday. Its shares plunged nearly 8 per cent to close at Rs 433.90
per share on the BSE.
Shares of both telcos Bharti Airtel and
Vodafone Idea Ltd (VIL) were under pressure on Wednesday after Reliance
Jio announced a range of postpaid plans with several benefits, to take
on both Airtel and Vodafone Idea in the postpaid segment.
On the
outlook for the market, Siddhartha Khemka, Head of Retail Research at
Motilal Oswal Financial Services, said: "Going forward, the market would
continue to consolidate in the near term as investors keep a close
watch on the rising Covid cases and delay in US stimulus."
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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