India Indexes at 13-Week Low, Sensex Down 8.9% YTD

Sarla Buch
11 Dec, 2015
New York City

Market indexes in India extended weekly losses and dropped to 13-week lows. Sensex is down 8.9% in the year so far and may register annual loss for the first time since 2011. MEP Infrastructure secured toll collection rights in Uttar Pradesh.

[R]6:00 PM Mumbai, India – Market indexes in India extended weekly losses and dropped to 13-week lows. Sensex is down 8.9% in the year so far and may register annual loss for the first time since 2011. MEP Infrastructure secured toll collection rights in Uttar Pradesh.[/R]

Market indexes in Mumbai declined for the second week in a row and Nifty index declined to a 13-week low.

Jittery investors stayed on the side lines ahead of Goods and Service Tax bill decision and looks to the U.S. Fed to decide on rate direction at its next policy meeting on Dec 16.

Rupee weakened 16 paisa to 66.87 against one U.S. dollar.

The Sensex Index fell 207.89 or 0.8% to close at 25,044.43. The CNX Nifty decreased 72.85 or 0.9% to 7,610.45.

For the week, Sensex Index dropped 2.3% and CNX Nifty slipped 2.2%.

Sensex has lost 8.9% in the year so far and is likely to register its first annual loss since 2011.

Gainers & Losers

Cipla Limited rose 0.7% to ₹639.40 after the drug maker received approval from the board to transfer its consumer healthcare business to its subsidiary Cipla Health for about ₹16 crore.

Infosys Limited edged up 0.6% to ₹1,052.35 and the software developer secured a contract from Norway-based DNB Bank.

MEP Infrastructure Developers Ltd slid 0.2% to ₹47.50 after the infrastructure developer secured toll collection rights in Uttar Pradesh.

Siemens Limited edged down 0.3% to ₹1,144.60 after the conglomerate secured an order worth ₹102 crore in West Bengal.

Titan Company Limited dropped 2.7% to ₹353.05 after the Reserve Bank of India permitted foreign ownership limit in the company to 35%.

Texmaco Rail & Engineering Limited soared 7.1% ₹148 after the hydro mechanical equipment maker’s consortium won a contract worth ₹1,800 crore from the Dedicated Freight Corridor Corporation of India.