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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Markets move lower on profit booking 
(Thu, 13 Dec Closing) 
 
The Indian stock markets started the day above the dotted line, however they moved slightly lower as the day progressed. However towards the final two hours of trade they moved significantly lower and finally ended the day on a negative note. The BSE-Sensex closed negative, lower by around 126 points (down 0.7%). The NSE-Nifty also closed lower by around 36 points (down 0.6%). The smaller indices had a relatively weaker day on the bourses. The BSE Mid Cap index closed 1.2% lower and the BSE Small Cap closed 1% lower in trade today. Consumer durables and FMCG stocks saw a bulk of the losses today. Auto stocks closed higher.

As regards global markets, Asian indices had a mixed outing today. European indices opened the day on a negative note. The rupee was trading at Rs 54.47 to the dollar at the time of writing.

Power Finance Corporation (PFC) announced that it would set up a US$ 1 bn private equity (PE) fund in joint venture with Tata Capital. This fund will invest in the equity of private power projects. Tata Capital will hold 51% equity in the joint venture (JV) company, while PFC will own 49%. The final terms of the JV are being finalized and the fund is expected to become operational in the next 6-9 months. The company's target for sanctions this fiscal stands at Rs 451.4 bn, of which it has sanctioned Rs 417 bn. The financer said it will launch a tax free bond issue to garner up to Rs 45.9 bn from this Friday, December 14. The first tranch of the issue is expected to raise up to Rs 10 bn with an option to retain over subscription up to a limit of Rs 45.9 bn. The bond issue would be for a period of 10-15 years offering an interest rate between 7.19% and 7.86%.

Tata Motors subsidiary Jaguar Land Rover announced that global sales in November increased by 14% to 29,893 units. During the month, Jaguar sold 4,031 vehicles, down 5%. This was on anticipation of the introduction of the 2013 Model Year XF and XJ model ranges. In November, Land Rover sold 25,862 vehicles, up 17% compared to the same month in the previous year. Both companies continue to deliver strong volumes globally and the performance in the home market, UK continues to be robust. Sales in November increased in almost every major market with sales growing in China by 43%, Asia Pacific by 26%, the UK by 15% and Europe by 12%. However, on account of increased competition and new models being launched, sales in North America were down by 7%. For the January-November period, JLR's combined sales increased 32% to 324,184 units, with a strong performance across all geographies. Tata Motors was the top gainer in the Sensex on the back of this positive development.

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Jun 23, 2017 (Close)

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