Business

Yes Bank was the top loser in the Sensex pack, shedding 2.50 per cent, followed by HUL that fell 2.37 per cent, M&M 2.12 per cent, SBI 2.03 per cent, Tata Motors 2.03 per cent and Vedanta 1.97 per cent.

For the first time, electricity demand growth in India has dropped, slowing down manufacturing sector, slipping along the record drop in global coal power generation and the rise of renewables.

The job cuts were announced by the Indian steel major last week as part of a wider transformation programme as it blamed ongoing losses and continued global headwinds faced by the steel industry.

He said the railways has drawn up a 12-year plan entailing an investment of Rs 50 lakh crore.

Microfinance lender Ujjivan Financial Services, which is the holding company of Ujjivan Small Finance Bank, plans to raise Rs 750 crore through the IPO that will see fresh issuance of shares.

At 10:20 am, RIL shares were trading flat at Rs 1,561.85 apiece after hitting a high of Rs 1,576.35 in early session. Market capitalization stood at Rs 9.9 lakh crore, just shy of the Rs 10 lakh crore milestone.

After opening slightly higher, the 30-share index turned negative to trade 41.31 points, or 0.10 per cent, lower at 40,610.33. Similarly, the broader Nifty slipped 17.75 points, or 0.15 per cent, to 11,981.35.

After hitting a high of 40,736.14 in early trade, the 30-share index pared some gains to quote 177.67 points, or 0.44 per cent, higher at 40,647.37.

Economic growth has fallen to a six-year-low of 5% in the June quarter and is widely expected to slip further with almost all key components of the economy contracting or falling since the first three months.

The much-delayed offering, a cornerstone of Prince Mohammed's ambitious plan to diversify the oil-reliant economy, rivals the world's biggest listing -- the USD 25 billion float of Chinese retail giant Alibaba in 2014.

The other winners included Reliance Industries Ltd (RIL), HDFC Bank, Kotak Mahindra Bank, ICICI Bank and SBI, while HUL, Infosys, ITC and HDFC suffered losses in their market capitalisation (m-cap) for the week ended Friday.

The arrests came after an FIR was lodged at the Hazratganj police station on November 2 against Praveen Kumar Gupta and Sudhanshu Dwivedi.

The DoT has given option to telecom operators to clear all the dues on a self-assessment basis.

Opening marginally lower, the Indian currency dropped to a low of 71.54 to the US dollar before settling at 71.47, showing a fall of 19 paise.

The 30-share Sensex ended 21.47 points, or 0.05 per cent, higher at 40,345.08. Similarly, the broader NSE Nifty closed with a gain of mere 5.30 points, or 0.04 per cent, at 11,913.45.

Factory output, as measured in terms of Index of Industrial Production (IIP), had expanded 4.6 per cent in September 2018.