The Sensex fell 146 points on Wednesday, its biggest drop in more than a week, led by realty, FMCG and auto stocks as investors booked profits ahead of state election results. ITC, ICICI Bank and HDFC shares together contributed 85 points to losses in the index, which received some support from IT stocks Infosys and Wipro. Hindalco Industries, ONGC and Tata Motors were among the 19 Sensex shares that fell. Eight of the 13 BSE sectoral indices declined. The S&P BSE Sensex opened lower from Tuesday’s close and fell further in the second half. It closed at 20,708.71, a drop of 146.21 points or 0.70%. The decline was the most since November 26, when the index fell 180 points.
Funding via primary market over R7,200 cr, bulk from debt
Fund raising by Indian firms through the primary market route jumped 89% to more than R7,200 crore in October over the preceding month. With this, the cumulative fund mobilisation by companies for the first seven months (April-October) of 2013-14 fiscal was R18,636 crore compared with R9,484 crore raised during the year-ago period. According to Sebi, companies mopped up R7,279 crore in October, as against R3,847 crore mobilised in September. Of the R7,279 crore raised in October, a major chunk of the amount (R7,195 crore) was garnered through debt route and the remaining R84 crore via issuance of equity shares.
Sebi seeks clarification on Great Eastern Energy’s IPO
Sebi has sought clarifications from the merchant banker of Great Eastern Energy, a coal-bed methane explorer, over the firms’s proposed IPO. Sebi said it might issue observations on Great Eastern Energy’s draft offer document within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought from them. The regulator had received the draft offer documents on September 17 through its lead manager ICICI Securities. The company plans to come with a public issue of up to 82 lakh equity shares of face value of R10 each.
The London-listed company produces natural gas from coal seams, commonly known as coal bed methane (CBM), in India.
CSE officials meet Sebi