Mumbai: The market finally ended with deep cuts. The Sensex closed at 26775.69, down 431.05 points or 1.6 per cent while the Nifty slipped 128.75 points or 1.6 per cent at 8017.55.
About 886 shares advanced, 2131 shares declined and 91 shares were unchanged. Wipro gained 1 per cent while other stocks ended in red in the Sensex. Cipla and Tata Motors were down 4 per cent, Tata Steel, BHEL and Reliance fell 3 per cent each.
The Sensex crashed 391.09 points or 1.44 per cent to 26815.65 and the Nifty plunged 108.40 points or 1.33 per cent to 8037.90 following weak European cues after the US announced it had launched airstrikes in Syria.
France's CAC, Germany's DAX and Britain's FTSE fell 1-1.5 per cent. The United States and Arab allies hit Islamic State targets including training camps, headquarters and weapon supplies in northern and eastern Syria in dozens of air and missile strikes, the US military and a monitoring group said.
US strikes also hit a separate group of al Qaeda-affiliated militants in northern Syria. Back home, shares of Cipla, Tata Motors, Hindalco Industries, Gail India, Tata Steel and DLF tanked 3-7 per cent while HCL Technologies outperformed, up 1.5 per cent. About 831 shares have advanced, 2100 shares declined, and 99 shares are unchanged on the BSE.
Mumbai airport operator GVK is in talks with various private equity (PE) players to sell its stake in its airport business. The company is in talks with PE players like KKR, Blackstone, GA, etc to divest its stake in a move to monetize its assets.
The company is looking to raise USD 400 million through this stake sale, say sources.
Furthermore, the company is looking to list its airport business and is in talks with merchant bankers for the same. However, the listing is unlikely to take place before mid- FY15.
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