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Market Update

Sensex Falls 0.4% on China Jitters, Rupee Edges Lower

Author: Sarla Buch
Last Update: 6:13 AM ET January 11 2016

6:00 PM Mumbai, India – Tata Motors said Jaguar Land Rover December sales jumped 5%. Anil Ambani-led Reliance Group and Andhra Pradesh state government agreed to set up a defence manufacturing unit with an initial investment of $800 million.

Stocks on Dalal Street edged lower after markets in Asia declined and indexes in Shanghai plunged more than 5%.

In volatile trading, stocks in Mumbai edged lower and investors focused on mainland China as the central bank struggled to prop up the weakening yuan and traders speculated another decline of 5% in the next two weeks.

Weak Chinese yuan also knocked off currencies in Asia and the rupee edged lower.

Rupee weakened 18 paisa to ₹66.81 against one U.S. dollar.

The Sensex Index fell 109.29 or 0.4% to close at 24,825.04. The CNX Nifty decreased 37.50 or 0.5% to 7,563.85

Gainers & Losers

8K Miles Software Services Limited edged down 0.5% to ₹2,362.40 after the software developer said net in the third-quarter surged 70% from a year ago to ₹0.34 crore.

Net sales in the quarter soared 80.2% to ₹6.02 crore.

Ashok Leyland Limited increased 1.7% to ₹92.40 after the commercial vehicle maker secured an order for 680 vehicles and parts worth ₹330 crore or $50 million from Zimbabwe.

Spice Mobility Limited surged 19.9% to ₹24.95 after the mobile handsets trader’s subsidiary Spice Digital, acquired 22.54% equity stake in Sunstone Eduversity.

Reliance Infrastructure Limited edged up 0.5% to ₹583.65 after the Anil Ambani-led Reliance Group signed an agreement with the Andhra Pradesh government to set up a defence manufacturing unit with an initial investment of ₹5,000 crore.

Sintex Industries Limited declined 6.9% to ₹94.05 after the plastic products maker reported net in the third-quarter 11% from a year ago to ₹1,800.97 crore.

Tata Motors Limited advanced 2% to ₹360.65 after the truck and vehicle maker said Jaguar Land Rover December month jumped 5% from a year ago to 487,065 vehicles.

Vakrangee Limited gained 1.7% to ₹180.80 after the company entered into a strategic partnership with Mahindra eMarket Ltd.

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