Market Recovery after Two Days of Decline, Airtel Shares Rose 2%

On the third trading day of the week, shares of Airtel, the world's leading Telecom Company, rose by 2 percent. At the same time, recovery has also come in the Sensex and Nifty.
Market Recovery after Two Days of Decline, Airtel Shares Rose 2%

The Indian stock market has braked for two consecutive days – Monday and Tuesday's fall. On the third trading day of the week i.e. Wednesday, the stock market started with an increase. The Sensex rose by 150 points to 41,480 points in early trade. Similarly, the Nifty also saw a rise of 30 points but it remained below 12,200 points.

Meanwhile, the largest gain in BSE index was recorded in the shares of telecom company Airtel. Its shares went up by 2 percent. Apart from Airtel, shares of IT sector and banking sector were also seen trading on the green mark.

Airtel Boom

In fact, the Department of Telecommunications has approved increasing foreign direct investment (FDI) in Bharti Airtel from 49 percent to 100 percent. Airtel shares have benefited from this news. Bharti Airtel is also allowed to hold up to 74 percent stake in the company to foreign investors from the Reserve Bank. A few days ago, Airtel paid about 35,586 crore rupees as legal dues. It has a license fee of Rs 21,682 crore and spectrum of Rs 13,904.01 crore, excluding arrears of Telenor and Tata Tele.

Sensex Drops 622 Points in Two Days

On the last two trading days i.e. Monday and Tuesday, there has been a total fall of 622 points in the sensex. On Tuesday, the Sensex closed down 204.10 points, or 0.49 per cent, at 41,323.81 points. On Monday, the Sensex fell by 416.46 points to 41,528.91 points. If we talk about Nifty, then 181 points have been rolled in these two days. The Nifty fell 54.70 points, or 0.45 per cent, to 12,169.85 on Tuesday. On Monday, it closed at 12,224.55 points, down by 127.80 points.

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