Sensex ends six-day losing run, up 30 points
Ending its six-day string of losses, the BSE benchmark Sensex on Monday advanced 29.63 points to close at 18,339 on the back of buying in ITC, Bharti Airtel and auto shares, including Maruti Suzuki, amid a firming global trend. However, the NSE Nifty index extended its losses for the seventh straight day as it eased 2.65 points to 5,571.40. The Sensex, which had tumbled to two-month lows by losing 593 points or 3.14% in the earlier six sessions, recovered by 29.63 points, or 0.16%, to end at 18,339, led by gains in auto and FMCG sectors mostly. Thirteen stocks of the 30-share Sensex gained, while 17 scrips, including Tata Power, TCS, Tata Steel and HDFC, declined. Brokers said buying at low levels in selective counters helped Sensex end in a positive zone amid investors judging the recent losses as overdone. Auto stocks closed with gains on hopes of better numbers.
Srei Infra gains over 3% on infra debt fund plans
Stocks of Srei Infrastructure gained over 3% on the BSE on Monday, thereby adding R90 crore to its market capitalisation, after the company said it is planning to raise $500 million through its infrastructure debt fund. Srei Infrastructure is planning to raise $500 million through its infrastructure debt fund which is likely to be launched as early as January next year. Shares of the company ended the day at R35.95, higher by 3.45% on the BSE. The scrip had surged 8.2% to R37.60 intra day. The stock, which has been on a roll since November 9, the day it announced its September quarter results, has added a whopping R522 crore to its market capitalisation since then. In Monday’s trading session, the scrip added R90 crore to its market worth. Market analysts said the strong rally in the counter is largely owing to the fact that the company has already received the Certificate of Registration from market regulator for its infrastructure debt fund.
TII acquires 26% more in Shanthi Gears
Shanthi Gears has informed the stock exchanges that Tube Investments of India (TII) on Monday acquired