Indices at previous closing
Nifty50: 16,568 ▼45 (-0.2%)
Sensex: 55,629 ▼162 (-0.2%)
Nifty Bank: 35,554 ▼312 (-0.8%)
In the news
Airtel goes to SC to review AGR order
The telecom major has approached the Supreme Court (SC) with a petition to review an earlier order, which prevented telecom companies from rectifying errors in the calculation of adjusted gross revenue (AGR) dues.
Airtel has asked the apex court to clarify the alleged calculation errors made by the Department of Telecommunications (DoT). Airtel estimates that it owes the DoT ₹13,004 crore, while the company has already paid ₹18,000 crore. The SC has already rejected an earlier plea from the company regarding a miscalculation. The stock was down 0.6% on Wednesday, but has risen over 10% in August.
FMCG sees strong growth in Q1
According to Nielsen, the FMCG sector witnessed 37% year-on-year growth in June quarter. This indicates that the industry was able to sail through the second wave relatively better than the first wave. Further rating agency Crisil expects the industry to grow at 10-12% in current fiscal.
The sector has also witnessed growth on both urban and rural fronts, supported by an increased focus on e-commerce and non-conventional channels. The Nifty FMCG index has risen nearly 5% so far this month.
Copper prices fall to four-month low
Copper prices on the London Metal Exchange fell by 1.4% to $8,913 per tonne on Thursday. A strong dollar and easing of supply pushed copper prices below the $9,000-mark for the first time since April.
The dollar rose to its nine-month high after the US Federal Reserve hinted that it is planning to taper the bond-buying programme, thereby restricting currency supply. Meanwhile, the Nifty Metal Index fell by 0.8% on Wednesday.
Sectoral indices (August 18)
| Top gainers | Top losers |
| Nifty FMCG ▲ 0.6% |
Nifty Bank ▼ 0.8% |
| Nifty PSU Bank ▲ 0.2% |
Nifty Metal ▼ 0.8% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.2% |
| Nikkei 225 (Japan) |
▼ 0.7% |
| Hang Seng (Hong Kong) |
▼ 0.6% |
| SSE Composite (China) | ▼ 0.5% |
| Dow Jones (US) (August 19) |
▼ 0.1% |
| NYSE (US) (August 19) |
▼ 0.7% |
| Nasdaq (US) (August 19) |
▲ 0.1% |
Fact of the day
The name Vodafone was derived from the company’s vision to provide ‘voice’ and ‘data’ services over ‘mobile phones’.
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