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Friday, 3 March 2017

Share Market Update ~ Nifty Below 8870; Bharti Infratel Up 5%

Reliance Jio's grand plan: After garnering over 100 million subscribers in just six months of launch, Reliance Jio plans to overhaul the telecom industry’s revenue structure and is banking upon India’s mobile data consumption opportunity to drive up revenues in the next five years. According to Jio’s estimates, about 400 million Indians can pay Rs 500 a month for data services. This would have a commensurate impact on its financials as well, as the company has invested nearly Rs 1.8 lakh crore into its ambitious telecom project.

The BSE Sensex is trading at 28,743 down 96 points, while NSE Nifty is trading at 8,867 down 31 points. A total of 14 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE. Maximum BSE sector are trading with negative leads. 

The BSE Mid-cap Index is jumped down 28 points to 13344, whereas BSE Small-cap Index is hiked 2 points at 13573. In Commodity market, Gold lost 55 points to 29,115 and Silver declined 35 points to 42,608.