Mumbai: On Friday, BSE and Nifty closed on the last day of trading in the week. The BSE opened 159.3 points down and the Nifty dropped 67.90 points in the morning. However, it witnessed fluctuations during the day’s trading. The BSE went down to 376.79 points during trading, but later it managed to go up to 279.93 points.
At the end of trading, the BSE closed up 223.51 points or 0.69% at 32,424.10 and the Nifty closed 90.20 points or 0.95% up at 9,580.30. Today, Idea shares rose by 12.71%. Earlier on Thursday, the BSE and the Nifty closed with gains. At the end of trading, the BSE closed 595.37 points up at 32,200.59 and the Nifty closed up 175.15 points at 9,490.10.
These bank stocks increased
- City Union Bank 5.21%
- Federal Bank 5.03%
- RBL Bank 2.36%
- State Bank of India 1.80%
- IndusInd Bank 1.20%
- ICICI Bank 0.90%
- HDFC Bank 0.15%
Share of these telecom companies increased
- Idea 12.71%
- MTNL 4.91%
- GTL Infrastructure 3.03%
- Tejas Network 2.91%
- Bharti Infratel 2.59%
Shares of about 37% companies fell on BSE
- BSE’s market cap stood at Rs 126 lakh crore Shares of 2,511 companies were traded.
- In this, 936 companies lost their share in 1,409 companies.
- Shares of 39 companies remained at 1-year high and 61 stocks were at one-year low 280 companies share upper circuit and 189 companies hold lower circuit
Stock Market Live Update 29/05/2020
Closing Bell: BSE closed up 223.51 points at 32,424.10 and Nifty closed up 90.20 points at 9,580.30.
03:04 PM BSE is trading up 183.65 points at 32,384.24 and Nifty is up 79.10 points at 9,569.20.
02:25 PM BSE is trading up 98.92 points at 32,299.51 and Nifty is trading 49.85 points up at 32,302.31.
01:04 PM Shares of 18 companies included in BSE 30 are rising and 12 are down.
Shares of telecom company Vodafone Idea saw a jump of up to 32 percent
On Friday, shares of telecom company Vodafone Idea saw a jump of up to 32 percent. In fact, according to the Financial Times, Google’s parent company Alphabet is planning to buy up to 5 percent stake in Vodafone.
At 11.10 am, Vodafone Idea shares jumped 35 percent to Rs 7.85. In May, the price of Vodafone India shares rose by 75 percent. The share price of the company was Rs 4.16 on 8 May.
According to sources related to the case, Google will have to spend $ 11 million to buy 5 percent stake of this telecom company. Alphabet listed on the US stock market’s Nasdaq has a market cap of $ 96.81 billion.
According to reports that Google’s parent company Alphabet also wanted to deal with Reliance Industries’ Jio platform, but Facebook won. Facebook has announced to buy a 9.99 percent stake in the Jio platform for $ 5.7 billion.
The report about Google’s parent company Alphabet
“By buying a stake in Vodafone Idea, Google will be able to challenge Facebook in India. Although Jio dominates in India, the company can do many deals in the domestic market.” Apart from Jio, Bharti Airtel and Vodafone Idea are big names in the telecom industry in India.
Currently, the Indian telecom market is dominated by Reliance Jio and Bharti Airtel, while Vodafone Idea is struggling to make a comeback. Vodafone Idea has been asked by the telecom department to pay the dues of Rs 58,000 crore.
However, the company has estimated the AGR arrears to be Rs 21,533 crore. She paid Rs 6,500 crore in March. Vodafone Group can invest Rs 285 crore in a telecom venture in India.