Sensex in India Looks Down as Asian Markets Remain Nervous

Sarla Buch
05 Jan, 2016
New York City

Stocks in Mumbai looked down and market indexes declined for the second day in a row in 2016. People

[R]6:00 PM Mumbai, India – Stocks in Mumbai looked down and market indexes declined for the second day in a row in 2016. People’s Bank of China pumped more money to stabilize faltering financial markets in Shanghai. Suven Life Sciences secure three product patents in Canada, South Korea and across Africa.[/R]

Stocks on Dalal Street looked down and extended losses for the second day of trading in 2016 and rupee drifted lower nearing record low.

Rupee weakened 5 paisa to ₹66.61 against one U.S. dollar.

The Sensex Index edged down 43.01 or 0.2% to close at 25,580.34. The CNX Nifty fell 6.65 to 7,784.65.

Gainers & Losers

Eros International Media Limited advanced 2.1% to ₹244.60 on TV reports that the entertainment distributor agreed to provide movie and video content to Idea Cellular.

Grasim Industries Limited edged down 0.3% to ₹3,648 after the textile company said that it has completed the merger with Aditya Birla Chemicals.

IFCI Limited soared 7.3% to ₹29.25 after the financial services provider plans to sell its stake in Stock Holding Corporation.

IDBI Bank Limited fell 0.8% to ₹84.20 after the lender plans to raise up to ₹1,900 crore through a bond offering.

SITI Cable Network Limited soared 5.3% to ₹38.75 and the Reserve Bank of India permitted the company to increase foreign investor holding to 49%.

Suven Life Sciences Limited increased 1.1% to ₹263.35 after the pharmaceutical products maker secured three product patents in Canada, South Korea and across Africa through ARIPO.

Texmaco Rail & Engineering Limited jumped 3.6% to ₹152 after the hydro mechanical equipment maker acquired a 55% stake in Mumbai-based Bright Power Projects (India) Pvt. Ltd for an undisclosed amount.