Sensex, Nifty Close Lower For Third Day Dragged By I.T., Metal Stocks
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Indian equity benchmarks closed lower for the third consecutive day, dragged by losses in information technology, metals, energy and telecom stocks.
The S&P BSE Sensex index shed 0.55% to 60,923.50. The NSE Nifty 50 Index declined by similar magnitude to close at 18,178.10. Both the benchmarks slipped as much as 1% in intraday trade.
The broader indexes almost mirrored their broader peers with the S&P BSE MidCap index shedding 0.4% and the S&P BSE SmallCap declining 0.7%. Eleven of the 19 sectoral indexes compiled by BSE Ltd. declined, with the S&P BSE Information Technology index falling 2.3%.
The market breadth was skewed neither in favour of bulls nor bears. About 1,610 stocks advanced, 1,676 declined and 140 remained unchanged.
Paytm Considers Scrapping Pre-IPO Placement Sale: Bloomberg Exclusive
Paytm is mulling scrapping its proposed Rs 2000-crore pre-IPO share sale.
Deal could be called off over valuation differences
Source: People familiar with the development
NSE Nifty Metal Index Down Nearly 2%
Kotak Mahindra Bank Leads The Gains In Banking Stocks
UPL To Acquire 80% Stake In Indonesian Firm PT Excel Meg Indo
UPL said its step down subsidiary, UPL Global Ltd. has entered into a definitive agreement for acquisition of 80% stake in equity share capital of PT Excel Meg Indo- Indonesia.
In an exchange filing, UPL said that PTE has a good presence in Indonesia and wide range of agro-chemical offers. UPL hoped the acqusition to provide market access and access to product portfolio of PTE.
UPL intended to complete the acquisition of 80% stake by December 31, 2021. PTE has been valued at an enterprise value of $25 million.