Market LIVE: After SC AGR order on modification pleas by telcos, RIL, Airtel gain, Vodafone Idea falls

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Bharti Airtel was the top gainer, up 3.54 per cent, followed by Bajaj-Auto, RIL and Sun Pharma. On the flip IndusInd Bank was the top loser.

14 Feb 2020, 09:55 by FE Online

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty were trading flat, after shedding morning gains on Friday weighed by private bank stocks, ITC, TCS. S&P BSE Sensex was trading flat at 41,460.75 points, while the broader Nifty 50 index was ruling at 12,160, down 14 points or 0.11 per cent. As many as 14 stocks out of 30 Sensex stocks were trading in the red. The Supreme Court on Friday rejected the modification pleas filed by the telcos seeking new schedule of AGR payments. Bharti Airtel was the top gainer, up 3.54 per cent, followed by Bajaj-Auto, RIL and Sun Pharma. On the flip IndusInd Bank was the top loser, down 2.37 per cent. NTPC, ONGC, Power Grid were among top laggards on the index.

Vodafone Idea shares were trading over 11 per cent lower at Rs 3.97 apiece in the noon deals. Vodafone Idea had hit an intraday low of 3.66 after the Supreme Court’s order on modification pleas filed by telcos on AGR.

S&P on Thursday affirmed India’s rating at BBB-/A-3 while keeping the outlook stable, global news agency Reuters reported. The global rating agency also said that India’s structural growth outperformance remains intact. “India’s stable outlook reflects the view that India’s growth will stabilize and begin to recover from its current low ebb,” S&P said. The rating agency, however, pointed out that India’s fiscal position remains precarious, with elevated fiscal deficits and net government indebtedness. The fiscal deficits of India is expected to remain broadly in line with our forecasts over the next two years, the agency added.