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Market Update

Sensex Declines 0.6%, Adani Ports to Raise $700 M

Author: Sarla Buch
Last Update: 11:40 AM ET January 12 2016

6:00 PM Mumbai, India – Sensex in Mumbai extended weekly losses and the rupee drifted near record low. IndusInd Bank surged 30%. L&T extended construction order wins in 2016. NIIT received contract worth £23 million from a U.K based regulatory agency.

Stocks in Mumbai traded lower and the rupee continued to drift downward after the U.S. dollar rose and the yuan traded near the bottom of the range set by the central bank in China.

Rupee weakened 5 paisa to ₹66.86 against one U.S. dollar.

The Sensex Index decreased 143.01 or 0.6% to close at 24,682.03. The CNX Nifty fell 53.55 or 0.7% to 7,510.30.

Gainers & Losers

Adani Ports and Special Economic Zone Limited rose 0.9% to ₹236.20 after the port operator and logistics services provider plans to raise ₹4,500 crore through debenture offering.

The Federal Bank Limited declined 7.8% to ₹48.25 after the lender said net in the third-quarter plunged 38.5% to ₹162.72 crore.

Total sales in the quarter edged up 0.2% to ₹2,086.07 crore.

IndusInd Bank Limited dropped 2.7% to ₹912.45 after the financial services provider reported net in the third-quarter surged 29.9% from a year ago to ₹581.02 crore.

Net sales in the quarter soared 22.1% to ₹3,766.70 crore.

Larsen & Toubro Limited rose 0.4% to ₹1,179.60 after the construction services provider’s construction unit secured orders worth ₹1,247 crore.

NIIT Technologies Limited advanced 2.4% to ₹556 after the software developer received contract worth £23 million from the U.K. based Ofcom.

Omax Autos Limited jumped 4.1% to ₹85.75 after the auto components maker sold its remaining 51% stake to its subsidiary Gmax Auto.

UltraTech Cement Limited slipped 2.1% to ₹2,668.50 after the cement producer plans to buy Kenya-based ARM Cement Ltd.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc