Share Market Today LIVE | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 05 dec 2019

By The editor On Dec 5, 2019

[ad_1]

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Bharti Airtel shares emerged among the biggest loser in Sensex, despite the firm’s $3 billion fund raising announcement. Bharti Airtel shares ended 3% down at Rs 447.75 on BSE. The board of Bharti Airtel on Wednesday approved raising up to $3 billion through debt and equity, the telecom operator said in a regulatory filing. Apart from raising $2 billion through different means such as qualified institutions placement and public or private offerings of equity shares, Sunil Bharti Mittal-led telco will also raise up to $1 billion, thereby totaling $3 billion. Meanwhile, the 30-share Sensex recovered from a sharp fall in the afternoon trade on Wednesday, following RBI’s decision to retain the repo rate at 5.15%. The Sensex closed 71 points down at 40,779, while the Nifty closed near the 12,000-mark. In a surprise move, the Reserve Bank of India’s Monetary Policy Committee did not cut the repo rate, keeping it unchanged at 5.15%. The MPC statement said that the decisions are in consonance with the objective of achieving the medium-term target for CPI inflation of 4% within a band of +/- 2% while supporting growth. Retail inflation, measured by y-o-y changes in the CPI, increased sharply to 4.6% in October, propelled by a surge in food prices. The Reserve Bank of India had already sliced 135 points from the repo rate, lowering it to the present level of 5.15%. The RBI also maintained its stance at ‘Accommodative’, which means that the possibility of suddenly going back to a rate hike is negligible and there is further room for a rate cut in the system as inflation data is benign. The MPC statement further said that stance will remain accommodative for as long as it is necessary to revive growth while ensuring that inflation remains within the target. Given the evolving growth-inflation dynamics, the MPC said that it felt it appropriate to take a pause at this juncture. We bring to you LIVE updates.

[ad_2]