Sensex snaps four-day rally, down 35 points
Snapping a four-day rally, the Sensex fell 34.58 points from its 19-month high to close at 19,305.32 as investors adopted a cautious stance ahead of the vote on FDI in Parliament and mixed trends from global markets. The broader 50-issue S&P CNX Nifty of the NSE also eased 8.90 points, or 0.15%, to close at 5,870.95
Nikkei hits 7-month high on China data, weak yen
Japan’s Nikkei share average edged up to a seven-month closing high on Monday, helped by futures buying as a weaker yen and improved Chinese manufacturing data encouraged investors. At one point, the Nikkei climbed above the psychologically important 9,500-mark for the first time since April 27. For the day, it closed up 0.1% at 9,458.18 after rising as high as 9,525.82, or 0.8%.
CLSA downgrades United Spirits to ‘sell’
CLSA on Monday downgraded United Spirits to ‘sell’ from ‘buy’, citing unfavourable risk-reward due to a sharp rally in the stock price ahead of the final consummation of its deal with Diageo PLC. United Spirits rose 69.8% in November versus 4.5% rise in the Sensex.
Sebi slaps fine on Concurrent Infra
The Securities and Exchange Board of India has imposed a penalty of Rs 50,000 on erstwhile Concurrent (India) Infrastructure for making incorrect disclosures related to the shareholding of promoters. The regulator said it had noted that the company filed incorrect and misleading information with the BSE related to the shareholding of two promoters — K Nirmala and K Nirupama — for quarter ended March 2011.
PC Jeweller fixes IPO price band at R125-135
PC Jeweller will hit the capital market on December 10 with an initial public offer (IPO) to raise up to R609 crore for funding its expansion plans. The company has fixed the price band of IPO, comprising over 4.51 crore equity shares, at R125-135 per share having a face value of R10 each.