Sensex Plunge, Vodafone Gains; What's Moved Market Today?

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Sensex Plunge, Vodafone Gains; What's Moved Market Today?
Credit: © Reuters.

By Puneet Sikka,

Except for Nifty Media , all the major sectors on Nifty declined, with Nifty and BSE Sensex dropping by 1.18% and 1.31% each. These losses were driven mainly by three reasons:

1) Comments from US Federal Reserve that it will start to taper assets at a quicker pace,

2) Uncertainty around RBI's monetary policy decision next week although RBI is most likely to maintain an accommodative stance,

3) Cautious environment after India reported a few Omicron cases.

In other news, Star Health announced that it will cut the sale offer portion of its IPO after it received a tepid response during its subscription period. In general, the IPO market in India is booming with the exception of Paytm.

Vodafone Idea (NS: VODA ) also surged to hit its fresh 52-week high of Rs 14.14 today. In the past two weeks, Vodafone (LON: VOD ) has zoomed by 44% after the company announced a 20-25% increase in its prepaid tariff.

 

 

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  • Uttam Mali @Uttam Mali
    What is target for vodafone idea
    Like 0
  • ASHOK KUMAR @ASHOK KUMAR
    In near future, may be 5 years,there is no chance to get dividends from this stock....
    Like 0

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