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Market LIVE: Sensex, Nifty likely to start on cautious note; Govt facing heat on Air India privatisation

Sensex had closed on 40,966.86, down 188 points or 0.46 per cent

Domestic equity benchmarks Sensex, Nifty are likely to start on a cautious note following a turbulent trading day on Tuesday. Sensex had crashed 400 points on the opening while Nifty 50 index dipped by almost 100 points on Tuesday. Sensex had closed on 40,966.86, down 188 points or 0.46 per cent while Nifty finished the day losing 63 points or 0.52 per cent at 12,055 on Monday. Bharti Airtel, Tata Steel, Reliance, Maruti, ITC had dragged the Sensex in the red while HDFC twins, Bajaj Finance, Sun Pharma helped Sensex to control the damage.

Bharatiya Mazdoor Sangh (BMS), an RSS-affiliated trade union, on Tuesday, slammed the Centre’s plan to privatise Air India. It urged the government to think “a hundred times” before going for privatisation of the airline. The Centre on Monday sweetened its offer for the sale of the debt-laden carrier. The government now intends to offload its 100% stake from 76% proposed in a 2018 attempt. Apart from retaining a large part of the debt, the government has also restrained a provision that substantial ownership and effective control of the airline must remain with an Indian entity.

Bharatiya Mazdoor Sangh (BMS), an RSS-affiliated trade union, on Tuesday slammed the Centre’s plan to privatise Air India. It urged the government to think “a hundred times” before going for privatisation of the airline.

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Source: Financial Express