Sensex, Nifty Decline The Most In Two Weeks Dragged By Metals, Consumer Durables
Catch all live updates on share prices, index moves, corporate announcements and more from Indian stock markets today.
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Indian equity benchmarks closed lower for the second consecutive session and logged the most single-day decline in two weeks, dragged by metals and consumer durables stocks.
The S&P BSE Sensex index shed 0.74% to 61,259.96. The NSE Nifty 50 Index declined by similar magnitude to close at 18,266.60. Both the benchmarks slipped as much as 1% in intraday trade.
The broader indexes underperformed their broader peers with the S&P BSE MidCap index and the S&P BSE SmallCap declining 2%. Barring S&P BSE Telecom Index, all the other 18 sectoral indexes compiled by BSE Ltd. declined, with the S&P BSE Consumer Durables index falling over 3.3%.
The market breadth was skewed in favour of bears. About 1,004 stocks advanced, 2,297 declined and 126 remained unchanged.
Mindtree Seals Strategic Partnership With U.S. Based Western Asset
Mindtree Ltd. has been selected as a strategic partner by Western Asset to help drive digital innovations.
In an exchange filing, Mindtree said it will initially partner with the Western Asset team on their I.T. infrastructure and application portfolio.
Mindtree will also aid Wester Asset in accelerating its transition a platform-based operating model and automate its enterprise systems.
Citigroup's India Retail Assets Said To Draw Kotak Mahindra Bank, HDFC Bank and ICICI Bank: Bloomberg
Citigroup Inc. has set a bid deadline of next week for its Indian consumer assets.
Citigroup's assets could be valued at $2 billion in a sale.
Kotak Mahindra Bank is planning to bid for the assets.
HDFC Bank and ICICI Bank are also weighing bids.
Source: People familiar with the matter
Spokesperson for Citigroup in Asia said "conversations with potential buyers continue with strong interest from a broad range of bidders, according to Bloomberg report.
Representatives for Kotak Mahindra and HDFC Bank declined to comment, while ICICI Bank did not respond to emails seeking comment
Ramkrishna Forgings Bags Rs 52 Crore Order In Mining & Earthmoving Segment
Ramkrishna Forgings Ltd. won an order worth Rs 52 crore in mining and earthmoving segment for the supply of engine components to one of the biggest engine component manufacturers in the world, the company said in an exchange filing.