Sensex Trades Higher; Zee Continues Decline

Benchmark indices opened the day flat, a day after the stellar rally of 900 points in the Sensex. Global cues were relatively quiet, though most of Asia was trading with gains.

The Sensex was trading with gains of68 points, while the Nifty drifted higher by 22 points in trade and crossed the 12,000 points mark.

Shares in Bharti Airtel were up even after the company reported a loss for the quarter ending Dec 31, 2019. The company reported a consolidated loss of Rs 1,035 crore for December quarter compared with a profit of Rs 86 crore in the same period last year. However, average revenue per user increased, which led to some buying in the stock.

Shares in TVS Motors gained marginally even as the company reported a decent set of numbers. The company reported a 20.7 percent decline in consolidated net profit at Rs 156.84 crore for Q3FY20, hit by lower sales during the period.

Zee Entertainment continued to drift lower after a 5 per cent fall on Tuesday, after reports that the Ministry of company Affairs was investigating the company. The shares were down 0.5 per cent in trade.

Meanwhile, most of the Asian markets were trading higher led by strong gains in the Japanese Nikkei.