Sensex Halts 8-Day Advance, Monsoon Intensifies Across India

Mukesh Buch
24 Jun, 2015
New York City

Strong monsoon rains supported market advance in Mumbai at the opening. However, Sensex halted 8-day rally after the collapse of Greek talks in the euro zone. JBM Auto launched its manufacturing plant in Sanand, Gujarat.

[R]6:00 PM Mumbai – Strong monsoon rains supported market advance in Mumbai at the opening. However, Sensex halted 8-day rally after the collapse of Greek talks in the euro zone. JBM Auto launched its manufacturing plant in Sanand, Gujarat.

Stocks and market indexes in Mumbai traded higher at the opening on better-than-estimated monsoon rain across the nation, improving foreign fund inflows and strong world market sentiment.

However, in the afternoon, after the European markets opened, the sentiment on Dala Street soured after Greek talks appeared to have collapsed.

Rupee weakened 5 paisa to 63.63 against one U.S. dollar.

The Sensex Index decreased 74.70 or 0.3% to close at 27,729.67. The CNX Nifty fell 20.70 or 0.3% to 8,360.85.

Gainers & Losers

Crompton Greaves Limited declined 3.4% to ₹162.35 after the consumer products maker signed a long-term alliance agreement with the Spain-based European consumer appliances company SOGO for kitchen appliances business in India.

The Escorts Ltd edged up 0.1% to ₹119.80 and the railway equipment maker announced a strategic relationship with the U.S.-based Cognizant Technology Solutions Corp.

Haldyn Glass Limited advanced 2% to ₹28.05 and the bottle maker’s board approved the proposal for a joint venture with Germany-based Heinz Glas International GMBH.

Hindustan Unilever Limited jumped 2.4% to ₹895.30 and the consumer goods maker is in advanced talks with Kerala-based Mosons Extractions Pvt. Ltd. to buy the Indulekha brand of hair care products for about ₹500 crore.

The news was first reported on the website of Live Mint.

J B M Auto Limited increased 1.4% to ₹177.50 and the auto component maker inaugurated its manufacturing plant in Sanand, Gujarat that cost about ₹200 crore to build.

Sun TV Network Ltd declined 12.5% and extended losses for the third day in a row after Prime Minister’s Office supported the block of security clearance issued by Home Ministry for 33 channels.