business news live: Markets open | Sensex, Nifty open decrease

12:42 P.M.

Reliance Industries shares fall 4%

Shares of Reliance Industries Ltd on Monday tumbled over 4% after it shelved a proposed deal to promote a 20% stake in its oil refinery and petrochemical business to Saudi Aramco for $15 billion.

The market heavyweight inventory tanked four.22% to ₹2,368.20 on the BSE.

at the NSE, it tumbled 4.17% to ₹2,370.

12:30 P.M.

Sensex crashes over one thousand facets, Nifty beneath 17,500

Indian indices extended the fall with Sensex plunging pretty much 1100 elements and the Nifty falling below 17,500. At 12:26 IST, the Sensex become down 1098.seventy seven facets or 1.84% to fifty eight,537.24 and the Nifty was down 338 features or 1.ninety% to 17,426.eighty.

The markets opened lessen as Sensex fell 202.56 points to 59433.forty five and the Nifty became down fifty six.30 facets to 17708.50.

11:fifty five A.M.

Paytm tumbles pretty much 14%

Shares of newly-listed One97 Communications, Paytm's mother or father enterprise tanked essentially 14% today, after making a tepid debut on Thursday remaining week.

The inventory plunged 13.66% to ₹1,350.35 on BSE and tumbled 13.39% to ₹351.seventy five on the NSE.

Ant neighborhood-backed Paytm's Rs 18,300 crore IPO, India's largest share sale, turned into oversubscribed 1.89 instances previous this month.

eleven:30 A.M.

Paytm Q2 GMV greater than doubles to ₹1,ninety five,600 crore

Paytm on Sunday stated more than two-fold rise in gross merchandise value at ₹1,95,600 crore in the 2nd quarter that ended on September 30.

Digital payments and economic services company had recorded a gross merchandise cost (GMV) of ₹94,700 crore within the identical period a yr in the past.

Paytm refers to GMV because the cost of complete payments made to retailers via Paytm, apart from any buyer-to-client charge services such as money transfers.

10:55 A.M.

Rupee slips to 74.35 against U.S. dollar

The rupee fell 5 paise to 74.35 towards the U.S. greenback in opening change because of big promote-off in home equities and firm American currency overseas. besides the fact that children, lessen crude costs supported the local unit and limited the fall.

On Thursday, the rupee had closed at 74.30 against the U.S. dollar and currency trading markets had been closed on Friday on the occasion of 'Guru Nanak Jayanti'.

The dollar index, which gauges the greenback's strength in opposition t a basket of six currencies, won 0.10% to 96.12.

10:30 A.M.

Airtel announces 20-25% tariffs hikes

Telecom operator Bharti Airtel announced 20-25% tariffs hikes for a number of pay as you go providing. the brand new tariffs will follow to voice plans, unlimited voice bundles, and facts precise ups.

while the entry-stage tariffed voice plan has been hiked by way of about 25%, the boost is set 20% for most unlimited voice bundles.

In tariffed voice plans, the new price is ₹99, towards the current ₹seventy nine with 28 days validity and advantages like 50% greater talktime worth ₹ninety nine, 200 MB data, 1p/sec voice tariff.

9:30 A.M.

Markets open | Sensex, Nifty open reduce

Indian benchmark equity indices opened on a bad note these days. The Sensex fell 202.fifty six features to 59433.forty five and the Nifty was down 56.30 facets to 17708.50.

Most Asian stocks began the week on a smooth be aware because the return of COVID-19 restrictions in Europe and risk of hastened tapering from the U.S. Federal Reserve.

Australian shares fell 0.four%, led by using bank stock losses. Japan's Nikkei became down 0.3% and MSCI's broadest index of Asia-Pacific shares became flat. however, S&P 500 futures rose 0.2% after Wall street indexes had slipped on Friday.

9:00 A.M.

Oil falls to a 7-week low

Crude oil fell to seven-week lows on concerns about excess give from Japan and over demand from a worsening COVID-19 circumstance in Europe.

Brent crude fell 0.72% to $78.32 and U.S. West Texas Intermediate (WTI) crude futures have been down 39 cents to $75.fifty five a barrel.

eastern leading Minister Fumio Kishida had signalled he would aid counter hovering oil prices after a request from the U.S. to unencumber oil from its emergency stockpile.

meanwhile, considerations are growing that renewed COVID-19 curbs may hit demand. Germany warned it will possibly impose a full lockdown after Austria said it might reimpose strict measures to tackle rising infections.

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Go style IPO subscription closed these days. last week, leading Minister Narendra Modi said he would repeal agriculture laws that farmers were protesting in opposition t for more than a year.  Reliance on Friday said it's going to reevaluate the $15 billion stake sale within the oil-to-chemical substances arm to Saudi Aramco. Paytm inventory will be the one to monitor this week after a dismal inventory market debut.

----  Edited by means of John Xavier

(With inputs from Reuters, PTI and other news corporations.)