MUMBAI: Indian equities started the week on a negative note in line with its Asian peers. All sectoral indices opened in the red with consumer durables and technology stocks leading declines.
Bombay Stock Exchange’s 30-share Sensex lost 87.90 points to 8237.92. National Stock Exchange’s benchmark Nifty fell 26 points to 2593.95 from Friday’s close.
Shares of Sterlite Industries edged lower after the company announced that it will pay $1.7 billion in cash and notes to buy bankrupt US copper miner Asarco LLC, lower than the $2.6 billion it offered last year. It has agreed with Asarco to pay $1.1 billion in cash, and $600 million in senior secured non-interest bearing promissory notes, to be paid over a period of nine years, for substantially all the operating assets of the US firm
Meanwhile, US stocks ended on a flat note on Friday, with the Dow and S&P rebounding late in the day to end higher as surging oil prices lifted energy stocks and offset a sell-off in technology shares on bets that the slowing economy will sap consumer spending on gadgets.
The Dow Jones Industrial Average rose 32.50 points, or 0.49%, to 6,626.94. The Standard & Poor's 500 Index inched up 0.12 percent, to 683.38. But the Nasdaq Composite Index fell 5.74 points, or 0.44%, to 1,293.85.
Asian markets declined led by banks on capital concerns. Nikkei fell 0.8%, Topix shed 1.42%, Hang Seng lost 1.28% and Straits Times lost 1.67%.
http://economictimes.indiatimes.com
Bombay Stock Exchange’s 30-share Sensex lost 87.90 points to 8237.92. National Stock Exchange’s benchmark Nifty fell 26 points to 2593.95 from Friday’s close.
Shares of Sterlite Industries edged lower after the company announced that it will pay $1.7 billion in cash and notes to buy bankrupt US copper miner Asarco LLC, lower than the $2.6 billion it offered last year. It has agreed with Asarco to pay $1.1 billion in cash, and $600 million in senior secured non-interest bearing promissory notes, to be paid over a period of nine years, for substantially all the operating assets of the US firm
Meanwhile, US stocks ended on a flat note on Friday, with the Dow and S&P rebounding late in the day to end higher as surging oil prices lifted energy stocks and offset a sell-off in technology shares on bets that the slowing economy will sap consumer spending on gadgets.
The Dow Jones Industrial Average rose 32.50 points, or 0.49%, to 6,626.94. The Standard & Poor's 500 Index inched up 0.12 percent, to 683.38. But the Nasdaq Composite Index fell 5.74 points, or 0.44%, to 1,293.85.
Asian markets declined led by banks on capital concerns. Nikkei fell 0.8%, Topix shed 1.42%, Hang Seng lost 1.28% and Straits Times lost 1.67%.
http://economictimes.indiatimes.com
