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Market Update

Sensex Surges 1.1%, Rupee Slides

Author: Mukesh Buch
Last Update: 7:58 AM ET March 17 2015

6:00 PM Mumbai Sensex in Mumbai traded higher and the rupee declined. Central and state government stepped up contract awards to accelerate urban renewal and infrastructure development. State Bank of India to conduct first online property auction and increase collection on bad debts.

Stocks in Mumbai rebounded for the first time in three days on the back of resource and healthcare stocks.

Rupee continued to weaken ahead of two-day meeting of rate setting committee in the U.S. and currencies across Indonesia, Thailand, Japan, and in the euro zone continued to slide.

Rupee slid 9 paisa to 62.72 against one dollar.

The Sensex Index jumped 298.67 or 1.1% to close at 28,736.38. The CNX Nifty gained 90.15 or 1.1% to 8,723.30.

Gainers & Losers

Amtek Auto Limited climbed 2.7% to ₹152.65 after the automobile products maker acquired German-based Scholz Edelstahl GmbH through its Singapore-based subsidiary Amtek Precision Engineering for an undisclosed amount.

Diamond Power Infrastructure Ltd soared 20% to ₹54.60 after the turnkey services provider receivedorders worth ₹332 crore from ASEB and Nagaland Electricity Board.

State Bank of India rose 0.4% to ₹282.80 after the financial services provider plans to sell its 124 out of 350 properties in mega e-auction and raise ₹100 crore.

Sunil Hitech Engineers Limited climbed 8.5% to ₹152.50 after the construction company acquired a contract for ₹122.02 crore from the Ministry of Road Transport and Highways, Government of India.

Tata Motors Limited jumped 2.5% to ₹571.55 after the truck and passenger vehicles maker won orders for more than 4,000 buses from states transport authorities under the second phase of the union government''s national urban renewal plan.

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