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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Power, realty stocks receive thrashing 
(Thu, 5 Feb Closing) 
 
After trading in the positive for the most part of the day, the indices lost momentum in the final hours of trade thus closing marginally in the negative. While the BSE Sensex today closed lower by 32 points, the NSE-Nifty closed lower by 12 points. Smallcaps and midcaps too witnessed a fall today. The BSE Mid Cap index and the BSE Small Cap index closed the day lower by 1.3% each. Sectoral indices closed the day on a mixed note, with realty and power stocks being the top losers today.

As regards global markets, Asian indices closed on a mixed note today. The rupee was trading at Rs 61.87 to the dollar at the time of writing.

Engineering stocks have ended the day on a negative note with the losers being led by Elecon Engineering and Voltas. As per a leading business daily, Private equity firm Advent International may be looking to buy a US$ 200 m stake in the soon to be demerged consumer products division of engineering major Crompton Greaves. It may be noted that the company is planning to hive off its lucrative consumer durables business into a new entity. It is in this entity that the Advent is said to be looking to buy a significant minority interest, and may in fact already be in advanced talks to do so. The consumer products business segment of the Crompton Greaves contributed roughly 20% to its consolidated revenue during FY14. It has a diverse range of brands in categories like fans, air coolers, induction cookers etc., and is the largest fan manufacturer in the country.

As per a leading business daily, cooling solutions major Blue Star is aiming to capture 10% market share in the room AC market in FY16. It is worth noting that currently the company's market share in the room AC segment is around 9%. The management has indicated that it is expecting the segment to grow at 25% in FY16, as opposed to industry growth which is expected to be in the region of 15%. The company is also planning to set up a new plant in South India, a region which contributes to more that 50% of the segment's sales in the country.

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Jul 24, 2017 (Close)

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