Market flat, Nifty around 10,900; Bharti Airtel slips 3%
Shares of Bharti Airtel are down over 4 percent as investors turned cautious of a rating downgrade. Moody’s Investor Service has downgraded the company to a junk rating, BloombergQuint reported, based on concerns that cash flow could continue to be under pressure. Benchmark indices are trading flat with Nifty holding above 10,900 level.
At 09:17 hrs IST, the Sensex is up 27.16 points at 36609.90, while Nifty is up 13.40 points at 10925.70. About 336 shares have advanced, 455 shares declined, and 43 shares are unchanged.
JSW Steel, Bharti Airtel, Tata Steel, are trading lower, while gainers include Dr. Reddy's, Hero Moto, Eicher, UPL, Bajaj Finance, Bajaj Auto, Tech Mahindra, and Yes Bank. Indian indices are flat in the pre-opening trading with Nifty trading around 10,900 level.source-www.moneycontrol.com
At 09:05 hrs IST, the Sensex is up 2.40 points at 36585.14, while Nifty is up 10.70 points at 10923.00.
Bharti Airtel is down 3 percent, while Mishara Dhatu, Tech Mahindra, Titagarh Wagons are trading higher in pre-opening session. Trends on SGX Nifty indicate a flat start for the broader index in India, a gain of 18.50 points or 0.17 percent. Nifty futures were trading around 10,966.50-level on the Singaporean Exchange.
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