Sensex gained nearly 50 points in early trade while Bharti Airtel shares fell around 2%. Asian stocks extended their gains on Tuesday as overnight strength on Wall Street and the Federal Reserve’s dovish turn underpinned risk appetite, while the dollar held firm on last week’s upbeat US data. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.4% and hovered near its four-month high marked on Friday. Japan’s Nikkei average was flat on the day but at its highest level in seven weeks.

Bharti Airtel shares fall

Bharti Airtel Ltd fell 4.3% to ₹293.50 after Moody’s Investor Service downgraded Bharti Airtel Ltd to junk, on concern that cash-flow generation at India’s second largest telecom operator will remain weak for several quarters to come.

Vedanta fell 1.8% (9.20 am)

Vedanta Ltd fell 1.8% to ₹160 after the rating outlook of Vedanta Resources Limited, the holding company of India’s Vedanta Limited, has been changed to negative from stable by Moody’s Rating Agency, following the London-based company’s decision to invest $561 million in Volcan Investments, a family trust of Anil Agarwal, amid movements in commodity prices that are exposed to further downside risk.

Except auto and pharma, all other sectoral indices are trading lower.

Feb 05, 10:11 AM (IST)
Gold Update: Gold prices on Tuesday held near one-week lows touched in the previous session, pressured by a firmer dollar and as investor appetite for riskier assets improved in the wake of strong US economic data.

Feb 05, 09:41 AM (IST)
Buzzing: Shares of Bharti AIrtel are down over 4 percent as investors turned cautious of a ratings downgrade. Moody’s Investor Service has downgraded the company to junk rating, BloombergQuint reported, based on concerns that cash flow could continue to be under pressure.

Feb 05, 09:19 AM (IST)
Market Opens: Benchmark indices are trading flat with Nifty holding above 10,900 level.

At 09:17 hrs IST, the Sensex is up 27.16 points at 36609.90, while Nifty is up 13.40 points at 10925.70. About 336 shares have advanced, 455 shares declined, and 43 shares are unchanged.

JSW STeel, Bharti Airtel, Tata Steel, are trading lower, while gainers include Dr Reddy’s, Hero Moto, Eicher, UPL, Bajaj Finance, Bajaj Auto, Tech Mahinrda and Yes Bank.

Feb 05, 09:07 AM (IST)
Rupee Opens: The Indian rupee opened higher by 10 paise at 71.70 per dollar versus previous close 71.80.

Feb 05, 09:06 AM (IST)
Market at pre-open: Indian indices are flat in the pre-opening trading with Nifty trading around 10,900 level.

At 09:05 hrs IST, the Sensex is up 2.40 points at 36585.14, while Nifty is up 10.70 points at 10923.00.

Bharti Airtel is down 3 percent, while Mishara Dhatu, Tech Mahindra, Titagarh Wagons are trading higher in pre-opening session.

Feb 05, 08:32 AM (IST)
Wall Street ends higher: Wall Street gained on Monday, with all three major indexes closing near session highs as sustained optimism on the prospects for US-China trade relations propelled technology shares.

Feb 05, 08:12 AM (IST)
SGX Nifty: Trends on SGX Nifty indicate a flat start for the broader index in India, a gain of 18.50 points or 0.17 percent. Nifty futures were trading around 10,966.50-level on the Singaporean Exchange.

source: moneycontrol.com