Sensex in India Jumps 1.1%, Rupee Bounces from Record Low

Mukesh Buch
25 Aug, 2015
New York City

Sensex in Mumbai rebounded in lock step with Asian markets bounce after four days of global decline. Adani signed an agreement with Chhattisgarh government to develop projects worth $4 billion. Netherlands-based Heineken NV plans to raises its stake 50% in United Breweries.

[R]6:00 PM Mumbai – Sensex in Mumbai rebounded in lock step with Asian markets bounce after four days of global decline. Adani signed an agreement with Chhattisgarh government to develop projects worth $4 billion. Netherlands-based Heineken NV plans to raises its stake 50% in United Breweries.[/R]

Markets in Mumbai and in Asia rebounded after four days of worldwide selloff that pushed most of the indexes down between 8% and 20%.

On Dalal Street, export sensitive and resource sector stocks led the mild rebound in volatile trading.

Rupee strengthened 54 paisa to 66.10 against one U.S. dollar.

The Sensex Index jumped 290.82 or 1.1% to close at 26,032.38. The CNX Nifty increased 71.70 or 0.9% to 7,880.70.

Gainers & Losers

Adani Enterprises Limited increased 1.6% to ₹72.45 after the company signed an agreement with Chhattisgarh government to develop projects worth ₹25,000 crore.

Future Retail Limited jumped 4.6% to ₹105.45 after the retailer plans to raise ₹205 crore through a non-convertible debenture offering.

Jain Irrigation Systems Limited soared 4.8% to ₹55.35 after the largest irrigation equipment maker plans to sell its food business unit to its subsidiary.

Praj Industries Limited advanced 2.4% to ₹80.15 after the engineering services provider plans to acquire additional 20% stake in Praj HiPurity Systems
for ₹35.70 crore.

Vedanta Limited surged 7.7% to ₹86.45 after the company raised ₹2,000 crore from State Bank of India through the sale of non-convertible debentures.

United Breweries Limited gained 3.6% to ₹860 after the beer maker said that the Netherlands-based Heineken NV has agreed to increase its stake to 50% from the current 42.07%.