Sensex Falls on Global Growth Worries and Profit Booking

Sarla Buch
30 Dec, 2015
New York City

Sensex in Mumbai traded lower on global growth worries and caution ahead of derivatives expiration. Bharti acquired 74% stake in Augere Wireless Broadband. SREI agreed to acquire leasing joint venture stake from its France-based partner BNP Paribas.

R]6:00 PM Mumbai, India – Sensex in Mumbai traded lower on global growth worries and caution ahead of derivatives expiration. Bharti acquired 74% stake in Augere Wireless Broadband. SREI agreed to acquire leasing joint venture stake from its France-based partner BNP Paribas.[/R]

Stocks in Mumbai opened higher but afternoon caution and profit booking led the widely followed indexes lower at close.

Stocks struggled after the worries of global economic growth resurfaced and investors remained cautious of the earnings season ahead.

Chrisitne Lagarde, chief of International Monetary Fund expressed her caution for the global growth in 2016 and cited rising interest rate environment in the U.S. and slowing growth profile in China.

In addition, market sentiment was cautious ahead of derivatives expiry on Thursday and shortened trading week.

Rupee eased 1 paisa to ₹66.39 against one U.S. dollar.

The Sensex Index fell 119.45 or 0.5% to close at 25,960.03. The CNX Nifty slid 32.70 or 0.4% to 7,896.25.

Gainers & Losers

Bharti Airtel Limited edged down 0.5% to ₹332.65 after the largest wireless services provider acquired a 74% stake in Augere Wireless Broadband India.

Dr. Reddy''s Laboratories Limited edged up 0.5% to ₹3,121.40 after the generic drug maker said it has relaunched its Esomeprazole Magnesium Delayed-Release Capsules in the U.S.

IFCI Limited increased 1.7% to ₹27.35 after the financial services provider sold its 0.17% stake in the National Stock Exchange for ₹29.63 crore.

Petron Engineering Construction Limited soared 14.3% to ₹253.30 after the infrastructure developer secured an order worth Rs 75 crore from JSW Cement.

SpiceJet Limited edged down 0.1% to ₹72.75 after the air transportation services provider received approval from the shareholder to raise up to ₹5,000 crore.

SREI Infrastructure Finance Limited declined 4.9% to ₹55.70 after the company agreed to acquire the 50% stake held by France-based BNP Paribas Lease Group in the joint venture SREI Equipment Finance Ltd.

Tata Power Company Limited rose 0.8% to ₹67.70 after the power producer’s subsidiary Coastal Gujarat Power refinanced its term loan of ₹3,864 crore.