Sensex in India Down on Weakness Across Asia

Sarla Buch
04 Dec, 2015
New York City

Stocks in Mumbai traded lower after markets across Asia declined. Investors shifted attention to U.S. rate decision after European Central Bank drove rates deeper in the negative territory. Jaiprakash Associates is looking to raise at least $700 million through a bond offering.

[R]6:00 PM Mumbai, India – Stocks in Mumbai traded lower after markets across Asia declined. Investors shifted attention to U.S. rate decision after European Central Bank drove rates deeper in the negative territory. Jaiprakash Associates is looking to raise at least $700 million through a bond offering.[/R]

Stocks in Mumbai traded lower for the second day in a row as foreign investors continued to trim net exposure and the Asia-wide weakness overshadowed trading.

Stocks in Mumbai and in Asia declined and the U.S. dollar continued to ride higher across all major currencies. In addition, the European Central Bank offered stimulus steps that fell short of market expectations.

Rupee weakened 5 paisa to 66.70 against one U.S. dollar.

The Sensex Index slipped 248.51 or 0.9% to close at 25,638.11. The CNX Nifty decreased 82.25 or 1.1% to 7,781.90.

For the week, Sensex Index dropped 1.7% and CNX Nifty declined 1.9%.

Gainers & Losers

Havells India Limited closed unchanged at ₹299.95 afnd the Mauritius-based Citigroup Global Markets fund sold its 61 lakh shares or 6.1 million shares for ₹178 crore through an open market transaction.

Jaiprakash Associates Limited rose 0.4% to ₹12.94 after the infrastructure developer received a shareholder approval to raise up to ₹5,000 crore through a debenture offering.

Mindteck (India) Limited edged up 0.4% to ₹178.40 after the software services provider won a highly sought after contract from the state government.

SeQuent Scientific Limited increased 1% to ₹1,147.25 after the animal health care products maker’s subsidiary, Alivira Animal Health, acquired three companies in Europe.

SJVN Limited jumped 3% to ₹28.85 after the company plans to set up cumulative 300 megawatts solar capacity in Rajasthan.

Sun Pharmaceutical Industries Limited gained 4% to 756.10 after the generic drugs maker received an approval from the U.S. drug regulator for its anti-cancer generic drug Gleevec.

Ujaas energy limited jumped 3.7% to ₹21.10 after the solar power system maker secured procurement and construction order worth ₹91.78 crore in Gujarat.