Midcaps are trading flat, while Nifty PSU Bank index was down around half a percent.
10:00 am Market Check: Benchmark indices are trading flat, cutting some of the losses from the opening session.
At 10:00 hrs IST, the Sensex is down 12.68 points or 0.04% at 33215.31, while the Nifty is down 1.70 points or 0.02% at 10238.50. The market breadth is in favour of advances as 1,161 shares advanced against a decline of 803 shares, while 90 shares were unchanged.
ONGC, Bharti Airtel and GAIL are the top gainers, while Adani Ports, ITC and Vedanta lost the most on both indices.
9:59 am Buzzing Stock: Dish TV shares rallied as much has 4 percent in morning Wednesday on positive sentiment after the deal to stake sale in direct-to-home arm by Airtel with Warburg Pincus.
Country’s largest telecom operator Bharti Airtel on Tuesday said an affiliate of Warburg Pincus, a global private equity firm, would acquire up to a 20 percent equity stake in Bharti Telemedia, the direct-to-home subsidiary of Airtel, for approximately USD 350 million.
Under the deal, Bharti Airtel will sell 15 percent stake in Bharti Telemedia and the remaining 5 percent will be sold by another Bharti entity, it added. Post the deal, Airtel will own 80 percent stake in the DTH arm.
9:41 am Expert View: Retail inflation has surged to a fifteen month high in November. In an interview to CNBC-TV18, Ananth Narayan, Market Expert shared his views and readings on the numbers. Narayan said that inflation spike is a nasty shock.
He further said that there is a lot of negativity as well as uncertainty about the future which is not good for the market. In fact, can hardly see any silver lining as far as bond market is concerned, he added.
He also said that he will be data dependent on events such as Federal Open Market Committee (FOMC) and Gujarat elections.
9:30 am Buzzing Stock: Bharti Airtel shares gained nearly 2 percent intraday after the company decided to sell 20 percent stake in its DTH arm to US private equity firm
Under the deal, Bharti Airtel will sell 15 percent stake in Bharti Telemedia and the remaining 5 percent will be sold by another Bharti entity, it added.
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