The Indian stock market started flat on the fourth trading day of the week. In the first minutes of trading, the Sensex and Nifty were seen trading on the red mark. However, recovery was also recorded after some time. In 9.50 in the morning, the SENSEX was working more than 30 points and was working at the level of 40 thousand 690. Talking about the Nifty, it was down 3 points to 11,996 points.
Telecom share Decline
Airtel, Vodafone Idea shares declined in early trade. While the shares of Airtel fell by 2 per cent, Vodafone-Idea is also in loss. In fact, the government has given relief to private telecom companies by postponing the installment of spectrum auction for two years. But at the same time it has been said that companies will have to pay the interest generated on this payment.
At the same time, Union Minister Ravi Shankar Prasad told the House that the government is currently not considering the proposal to give exemption in penalty and interest in the case of Adjusted Gross Revenue (AGR) to telecom companies. Let us know that despite heavy losses in the second quarter for the last few days, the shares of Airtel and Vodafone-Idea were registering a boom. These telecom companies were hopeful that the government would give immediate relief on the payment of dues.
Market Condition on Wednesday
The stock markets of the country recorded a boom on Wednesday. The Sensex gained 181.94 points to close at 40,651.64 and the Nifty gained 59.00 points to end at 11,999.10. In day trading, the Sensex touched a high of 40,816.38 and a low of 40,575.96. At the same time, the Nifty reached 12,038.60 upper level and 11,966.05 lower in the day's trading.