Jet Airways falls 1% Shares of Jet Airways fell over a percent in morning trade on Wednesday as investors reacted to multiple developments.
The Naresh Goyal-led airline flew 14.7 lakh passengers in November 2018, down by about 1.5 lakh passengers from January.
In January 2018, the airline had flown 16.2 lakh passengers, show statistics from the DGCA.
Additionally, investors turned wary of State Bank of India (SBI) seeking a progress of turnaround plan by the airline, CNBC-TV18 reported, quoting banking sources.
Further, the report added that banks want Goyal to give up majority control and step down from the Board of the carrier. It has suggested that his son, Nivaan Goyal replace him on the Board.
Media stocks rally Shares of HT Media, Jagran Prakashan and DB Corp rose 8-17 percent as investors cheered government hiking ad rates by 25 percent.
The government on Tuesday hiked by 25 percent the rates at which the Bureau of Outreach and Communication releases its advertisements to the print media.
The government said the decision will be of great benefit especially to the medium and small newspapers, including a large number of such papers in regional and vernacular languages.
Market opens The market has begun the day on a strong note, with the Sensex jumping over 200 points up.
The Sensex is up 210.98 points or 0.59% at 36191.91, and the Nifty up 54.10 points or 0.50% at 10856.30. The market breadth is positive as 330 shares advanced, against a decline of 109 shares, while 30 shares were unchanged.
Banks, automobiles and pharmaceutical sectors are gaining the most, while the Nifty Midcap index is higher by half a percent.
Infosys, Tata Motors, and Bharti Airtel are the top gainers, while Tata Steel and Eicher Motors have lost the most.
Rupee opens The Indian rupee opened higher by 15 paise at 70.05 per dollar on Wednesday versus previous close 70.20.
Market at pre-open Equity benchmarks have begun the day on a positive note in pre-opening trade.
The Sensex is up 185.20 points or 0.51% at 36166.13, and the Nifty up 66.80 points or 0.62% at 10869.00.
The Indian rupee opened higher by 15 paise at 70.05 per dollar on Wednesday versus previous close 70.20.
