MUMBAI: 9.25 am: Bharti Airtel, India’s largest telecom service provider, has entered into an exclusive discussion with Axiata Group Berhad (Axiata) to explore the possibility of combining the business operations of their telecommunication subsidiaries in Bangladesh; namely, Robi Axiata and Airtel Bangladesh. There is no certainty that this discussion will lead into the execution of binding definitive agreements between the parties. Share price of Bharti Airtel was down 1.72 percent at Rs 349.10 in the early trade. Sensex was down 323.10 points at 25,396.
9.20 am: Sensex was down 406 points at 25,313. Dr Reddy’s Laboratories has entered into a multi-country supply and licensing agreement with PanTheryx, Inc., a global medical nutrition company based in Boulder, Colorado. The agreement grants Dr Reddy’s the exclusive right to market and distribute PanTheryx’s breakthrough nutritional intervention, DiaResQ, for infectious diarrhea in India and Nepal and in process for Russia, Myanmar, Vietnam, Ukraine, Sri Lanka, Kazakhstan, Belarus, Jamaica, and select LATAM markets. The pharma major will market the product in India and Nepal under the ‘Reliqua’ brand. Dr Reddy shares were trading 1.18 percent lower at Rs 3,990.60 apiece in the early trade.
The BSE Sensex and NSE Nifty opened in red on Thursday tracking weak global markets. The BSE Sensex opened 196.62 points lower at 25,522.96. NSE Nifty opened 89.55 points down at 7729.05.
All the sectoral indices on Bombay Stock Exchange (BSE) also opened lower than their previous close.
Asian stocks fell on Thursday after lacklustre Chinese and Japanese economic data added to heightened worries about slackening global growth, sapping investors’ appetite for riskier assets.
Back home, domestic equity markets gained over 1.50 percent on Wednesday on the back of positive feelers from global markets and a slew of reforms.
Global Markets
New York: U.S. stocks ended more than 1 percent lower on Wednesday after rallying the day before, led by declines in shares of Apple and energy companies, which fell with oil prices.
London: Britain’s top stock index rallied on Wednesday for a third straight session, boosted by encouraging corporate news from mining companies and financial firms and gains in Asian markets
Tokyo: Japan’s Nikkei fell on Thursday as a surprise drop in machinery data heightened concerns about the economy, further spooking investors who rushed to book profits a day after the market posted its biggest one-day gain in nearly seven years.
Hong Kong: The Hang Seng Index was down 2.30 percent.
