MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
Reliance Jio's move to end its freebies will come as a "mild" not an "absolute" relief to rivals, who will be forced to match the newcomer's offer and pack more data to stop customer churn. Actions from competition would bring down overall pricing levels in the industry or compel a lot more data content in lower Average Revenue Per User or ARPU bundles, said a note by JP Morgan.
Reliance Jio's move to end its freebies will come as a "mild" not an "absolute" relief to rivals, who will be forced to match the newcomer's offer and pack more data to stop customer churn. Actions from competition would bring down overall pricing levels in the industry or compel a lot more data content in lower Average Revenue Per User or ARPU bundles, said a note by JP Morgan.
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