Sensex Trades On A Volatile Note; IndusInd Bank & Power Grid Top Losers

Share markets in India have erased early gains and are presently trading marginally lower. Benchmark indices turned volatile ahead of the release of wholesale inflation data.

The BSE Sensex is trading down by 53 points, while the NSE Nifty is trading down by 14 points.

The BSE Mid Cap index is trading down by 0.2%, while the BSE Small Cap index is trading up by 0.1%.

Sectoral indices are trading on a mixed note with stocks in the power sector and banking sector witnessing selling pressure, while energy stocks are witnessing buying interest.

The rupee is currently trading at 71.39 against the US$.

Speaking of Indian stock markets, in his latest video, Rahul Shah outlines the action you can take if the bull market of 2019 by passed you.

In news from the telecom sectorshares of Vodafone Idea surged over 13% in early trade today after the company reported a consolidated loss of Rs 64.4 billion for the December quarter.

However, shares of the company reversed their early morning gains and dipped 11% after the Supreme court rejected the telcos' plea seeking new schedule of AGR payments.

The company recorded exceptional expenses worth Rs 528 million for adjusted gross revenue (AGR) dues in the December quarter. It had made provisions worth Rs 441.5 billion for these dues in the September quarter.

The company's consolidated revenue from operations rose to Rs 110.9 billion in October-December from Rs 108.4 billion in the second quarter, driven by an addition of 8.3 million 4G users in the quarter.

On a sequential basis, the company posted a growth rate of 2.3%. While 4G addition growth was 9.4%, ARPU growth was 1.8%. On a YoY basis, ARPUs were up 22%.

Note that the company had reported its highest ever quarterly loss in the three month period ended 30 September, after it accounted for most of the liabilities related to AGR in the preceding quarter itself.

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