Sensex gains 150 points, Nifty tops 11,900; Vodafone Idea dips 10%
Sensex gained nearly 150 points and was trading at 40,433.3 level, while the Nifty50 touched 11,913-mark on Friday
MUMBAI: Domestic markets edged higher on Friday as the benchmark S&P BSE Sensex gained nearly 150 points and was trading at 40,433.3 level, while the Nifty50 touched 11,913-mark.
Vodafone Idea on Thursday posted the biggest quarterly net loss in India Inc's history at Rs 50,922 crore after providing for payments related to adjusted gross revenues (AGR).
Bharti Airtel, too, reported a pre-tax loss of Rs 31,334 crore for Q2FY20 due to outstanding AGR payments. Given the jump in deferred taxes (tax reversal), the reported loss at the net level came in at Rs 23,045 crore.
At least 17 companies are scheduled to report their September quarter earnings today.
The Sensex ended 170 points or 0.4 per cent higher at 40,286 and Nifty 50 index advanced 32 points or 0.2 per cent to close at 11,872 on Friday.