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Sensex, Nifty flat ahead of key Q3 results; Vodafone Idea plunges 33%

Telecom indices were mixed after the SC dismissed their review petition on AGR issue.

Last Updated: Jan 17, 2020, 10.07 AM IST

The world's second-largest economy grew 6 per cent in the fourth quarter of 2019 from a year earlier, and 6.1 per cent for the full year, official data showed.

Domestic equity indices were flat on Friday as traders awaited further cues after the US-China trade deal was signed, also eyeing major Q3 earnings scheduled for later today. Encouraging macro data from China kept the indices in the green.

The world's second-largest economy, China, grew 6 per cent in the fourth quarter of 2019 from a year earlier, and 6.1 per cent for the full year, official data showed.

BSE benchmark Sensex was up 10 points to 41,942, while NSE flagship Nifty was down 7.95 points to 12,347. Broader market indices followed their headline peers. Nifty Midcap was down 0.04 per cent to 17,977 and Nifty Smallcap advanced 0.15 per cent. Nifty 500 was down 0.07 per cent.

Sectoral indices were mixed. Banking and financial services indices were in the red. Nifty Bank was down 0.93 per cent while Nifty Private Bank dipped 0.87 per cent and Nifty PSU Bank 1.44 per cent. Nifty Auto, Nifty Pharma and Nifty Metal were trading with marginal gains.

Telecom indices were mixed after the Supreme Court dismissed their review petition on AGR issue. Bharti Airtel was up 3.96 per cent to Rs 492.80 while Vodafone Idea was down 32.84 per cent to Rs 4.05. Reliance Industries, which operates Reliance Jio, was up 1.75 per cent.

Among Sensex stocks, apart from RIL and Bharti Airtel, Nestle India, Tata Steel and M&M registered gains. IndusInd Bank continued to fall, slipping 2.66 per cent to Rs 1349 while SBI was down 2.29 per cent to Rs 315.85.

Globally, Asian shares rose on Friday after global stock indices and Wall Street posted more records, and as China's economic growth matched expectations in spite of US trade pressures.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent.

China's blue-chip CSI300 index was 0.27 per cent higher, extending a rally fuelled by hopes for improving relations with the United States that has seen it gain 9 per cent since the beginning of December.

Australian shares added 0.47 per cent after setting four consecutive record closing highs in previous days and Seoul's KOSPI rose 0.12 per cent. Japan's Nikkei was up 0.49 per cent after touching 15-month highs earlier in the session.

MSCI's global share index touched new highs and was last up 0.03 per cent.

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