Dec 01, 2016 01:56 PM IST | Source:

Sensex, Nifty flat; Reliance, Dr Reddy's, Lupin gainers

GAIL, ONGC, Reliance, Dr Reddy's Labs and Lupin are top gainers while Asian Paints, ICICI Bank, Tata Motors, Adani Ports and M&M are losers in the Sensex.

Moneycontrol Bureau

1:50 pm The Jio call: Addressing stakeholders and customers, Ambani said, "
I want to announce today that starting December 4, every new Jio user will get Jio data and voice, video and full bouquet of content will be free till March 31, 2017."

1:45 pm European markets: European markets opened slightly lower on Thursday as investors focus on political developments in Italy and key data releases after the oil-producing cartel OPEC agreed to cut production.

The Stoxx 600 started Thursday's trading 0.07 percent lower.

Investors continue concerned with political uncertainty in Italy ahead of a key referendum on Sunday and its implications on the banking system. The Italian central bank warned Wednesday that the country's top three banks would need to hold further capital against their assets from 2018.

1:40 pm The Jio call: Addressing stakeholders and customers, Ambani said,
#Delivering much higher speed than any other mobile operators in India
#Working on the 8 percent towers which are experiencing congestions in connectivity
#92 percent of towers have been experiencing high data speed
#8 percent of Jio towers have experienced congestion due to high usage
#Once delivered, Jio sim can be activated in 5 mins after KYC and Expect this facility to reach 100 cities by December 31, 2016.

1:35 pm The Jio call: Thanking customers for achieving 50 million subscribers, Chairman and Managing Director of Reliance Industries, Mukesh Ambani says:

#In 3 Months, Jio has become fastest growing technology company
#Jiio has grown faster than Facebook, Whatsapp or Skype
#On average Jio customer is using 25 times more data than average  Indian customer
#Jio customer today is consuming data at par or more than sophisticated users anywhere in the world
#Jio has signed up 6 lakh customers every day for last 3 months

1:30 pm Market outlook: There may not be any long-term positive impact from demonetisation, says Arvind Sanger, Geosphere Capital in an interview with CNBC-TV18. It will only lead to a postponement of earnings recovery. The pain will continue well into the March quarter of current fiscal, says Sanger. OPEC in its meeting yesterday, agreed to cut output after 8 years. This will lead to a long term positive for crude price. It may be positive for oil producing nations like Russia, but will be a negative for importers like India and China. Crude price rise and other global cues may hamper RBI's ability to cut rates, he says. He also does not see the Indian market rally due to the global pressures.

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The market is flat as the Sensex is up 12.90 points or at 26665.71, and the Nifty down 1.20 points at 8223.30. About 1111 shares have advanced, 1331 shares declined, and 134 shares are unchanged.

GAIL, ONGC, Reliance, Dr Reddy's Labs and Lupin are top gainers while Asian Paints, ICICI Bank, Tata Motors, Adani Ports and M&M are losers in the Sensex.

Gold prices moved down by 0.50 percent to Rs 28,243 per 10 ten grams in futures trading as participants trimmed positions amid weak global cues. Analysts attributed the fall in gold futures to offloading of positions by traders in-line with a weak trend overseas as the dollar's surge to the highest in at least a decade and signs that the US Fed is moving closer to increasing rates, eroded the metal's appeal as a safe-haven asset.

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