Market Update - Bharti Airtel down 4%, SBI Life Falls 12%, Sensex gains 200 pts

Bharti Airtel shares slumped by nearly 4% to hit Rs 305.55 on NSE after the firm finalised a fund-raising plan of up to Rs 32,000 crore through a combination of Rs 25,000-crore rights issue and a Rs 7,000-crore perpetual bonds float to build a war chest to reduce debt.

Over the last 30 days, the BHARTI AIRTEL share price is up 2.3%. And over the last one year, BHARTI AIRTEL share price is down 27.0%.

SBI Life Falls 12% - After 35 Block Deals Shares of SBI Life Insurance fell as much as 12.1 per cent, the worst fall since its listing on Bombay Stock Exchange, to Rs 510. About 7.88 crore shares or 7.9 per cent equity of the company changed hands in 35 block deals on BSE.

Market Opening: Benchmark indices started off the last day of the week on a strong note after three-day fall. Likely de-escalation between India and Pakistan after Pakistan Prime Minister announced that his country will release captured IAF Wing Commander lifted sentiment. The 30-share BSE Sensex rallied 223.53 points to 36,090.97 and the Nifty50 rose 63.80 points to 10,856.30 on the first day of March series.

Rupee - The Indian rupee has opened marginally lower at 70.74 against the US dollar, against Thursday's close of 70.72 a dollar.

Escorts Sales Rise 12% - Escorts Ltd. sold 7,240 tractors last month, an increase of 12 per cent from the year-ago period, according to its exchange filing. Domestic tractor sales in February 2019 at 6,918 tractors increased 9.9 per cent against 6,295 tractors in February 2018. Export grew by 92.8 per cent to 322 tractors against 167 tractors sold in February 2018.

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