The government's move to sell satellite spectrum without auction faces backlash from telecom firms and Elon Musk's Starlink, but may benefit mobile expansion

The portion allocated to qualified institutional buyers (QIBs) garnered only 13,89,647 bids, representing 5 percent of the 28,283,260 shares reserved for them.

On Tuesday, the Indian market closed lower, dragged down by declines in the metals, auto, IT, and pharmaceutical sectors, along with big players like Reliance, Bajaj Finance, and HDFC Life.

Momentum indicators continue to signal a negative trend as Nifty remains below its medium-term  moving averages

The Sensex slipped 153 points, or 0.19 percent, to 81,820.12, while the Nifty 50 closed 71 points, or 0.28 percent, lower at 25,057.35.

Brokerages point to RIL's long-term prospects, driven by growth triggers such as Jio’s tariff hikes, new energy projects, and further value unlocking in the digital and retail businesses.

Indices fluctuate as Angel One rises 10%, Gopal Snacks falls 2%. Oil prices impact sectors, and gold drops to $2,647 amid a strengthening dollar.

Retail revenue remained stagnant, although profits in the digital services segment grew by 15 percent. Analysts do not expect significant changes in the upcoming quarter, which may keep the stock price low

If Nifty manages to hold above 25,100, it could test the next short-term resistance at 25,500 in the coming sessions. 

The Sensex closed 592 points, or 0.73 percent, higher at 81,973.05, while the Nifty 50 settled at 25,127.95, up 164 points, or 0.66 percent.