A look at the headlines in the sector right now:

  1. Sensex ends 234 points lower, Nifty at 7,908 despite Arun Jaitley saying no capital markets tax: The fall was called a ‘knee-jerk reaction’ to Narendra Modi’s remark asking those earning from financial markets to make a ‘fair contribution’ to the country.
  2. Amazon India incurs losses of Rs 3,572 crore in 2015-2016 financial year: Company officials attributed it to heavy spending on infrastructure and technology, and massive discounts that the site offered.
  3. Interpretation was erroneous, Jaitley clarifies Modi’s remarks on higher taxes for capital markets: The prime minister’s comments were misunderstood by some sections of the media, the finance minister said.
  4. Airtel challenges TRAI’s decision allowing Reliance Jio to continue to offer free services: It alleged that the schemes were a violation of the regulator’s tariff orders and had caused it ‘significant prejudice and day-to-day loss’.
  5. Passengers will now be charged extra to book even middle seats on domestic flights: Jet Airways, IndiGo, Go Air and Spice Jet will charge a fee to reserve these seats only at the time of online booking or during web check-in.
  6. Cyanogen to shut down all services by December 31: Smartphones that run on the operating system, including OnePlus One, will not receive any further updates, but the firm has a plan in mind to transition to Lineage OS.
  7. Withdrawal limits imposed after demonetisation likely to be extended beyond December 30 deadline, say bankers: The Centre and RBI had not specified when the Rs 24,000 weekly limit at banks and Rs 2,500 cap on ATM transactions would be rolled back.