Sensex, Nifty strong; Bharti & Bajaj Auto up 3%, Amtek down -- 16 Sep 2015

Amtek Auto plunged 9 percent after Standard & Poor's downgraded subsidiary Amtek Global Technologies’ senior secured term loans worth 235 million euro and a 30 million euro revolving credit facility to CCC+ from B+ and placed on credit watch.


                       

The market remained strong in afternoon trade on positive global cues ahead of Federal Reserve's monetary policy meeting tonight. The Sensex climbed 293.53 points or 1.14 percent to 25999.46 and the Nifty jumped 78.55 points or 1 percent to 7907.65. Bharti Airtel (2.9 percent), Bajaj Auto (2.8 percent), Hero Motocorp (2.6 percent) and Axis Bank (2.5 percent) are the top gainers in Nifty. Among the losers are BHEL (-0.7 percent), Larsen (-0.4 percent) and Dr Reddys Labs (-0.2 percent). Investors did not show much interest for midcap and small cap shares, with the respective indices on the BSE down 0.1 percent and 0.1 percent respectively. Indiabulls Housing (-4 percent), HPCL (-4 percent), Emami (-3 percent), Container Corp (-3 percent) and UPL (-3 percent) were the big losers in the midcap space. Other notable laggards included Bharat Forge (-2 percent), Eicher Motors (-2 percent), Reliance Capital (-2 percent), Oil India (-2 percent) and Havells India (-2 percent). Amtek Auto plunged 9 percent after Standard & Poor's downgraded subsidiary Amtek Global Technologies’ senior secured term loans worth 235 million euro and a 30 million euro revolving credit facility to CCC+ from B+ and placed on credit watch. European shares were trading firm with France’s CAC up 58 points or 1.3 percent at 4627, Germany’s DAX up 87 points at 10275, and UK’s FTSE up 49 points at 6186.

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