Indian markets today moved lower in early trade, with BSE Sensex down about 100 points. On the NSE, Nifty was off 28 points to 10,865. Shares of Anil Ambani group companies were under pressure after RCom decided to opt for insolvency proceedings following its failure to sell assets for paying back its lenders. Elsewhere in Asia, stocks hovered near four-month highs today after a mixed performance on Wall Street at the close of last week, while the dollar firmed against the yen following strong US job and manufacturing data. MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat. Trade was subdued with many of the region’s markets closed for the Lunar New Year. China’s financial markets are closed all week, while those in South Korea are shut until Thursday.

Anil Ambani group companies fall
Anil Ambani group companies traded lower after RCom has decided to opt for insolvency proceedings, following its failure to sell assets for paying back its lenders. Reliance Communications fell 50% to ₹7, Reliance Infra fell 7%, Reliance Capital 8%, and Reliance Power 8%.

Rupee moves lower against US dollar
Indian rupee today weakened, tracking losses in other Asian currencies as dollar gained after stronger-than-expected US jobs data. At 9.08 am, the rupee was trading at 71.67 a dollar, down 0.59% from its previous close of 71.26. The home currency opened at 71.54 a dollar.

04 Feb 2019, 09:20:22 AM IST
RCom, DHFL shares in focus today
Reliance Communications Ltd (RCom) will propose a plan to sell its telecom infrastructure assets, airwaves and real estate to resolve its debt, the firm said on Sunday. RCom, controlled by businessman Anil Ambani, last week said it will seek fast-track resolution through India’s National Company Law Tribunal (NCLT).

eb 04, 09:19 AM (IST)
Market Opens: Indian indices started the day on negative note with Nifty trading around 10,850 level.

At 09:18 hrs IST, the Sensex is down 132.64 points at 36336.79, while Nifty is down 42.50 points at 10851.20. About 315 shares have advanced, 533 shares declined, and 41 shares are unchanged.

Zee Entertainment, Yes Bank, Hero Moto, Indiabulls Housing, Reliance Communications, Reliance Infra are trading lower, while gainers are Titan and Divis Lab.

source: livemint.com