Sensex, Nifty Post Longest Losing Streak In 3 Months

Indian equity benchmarks declined for a sixth straight session amid escalating tension between the U.S. and North Korea and as some investors deemed the recent run up in stocks overdone.

The S&P BSE Sensex lost nearly 0.1 percent to 31,599 and the NSE Nifty 50 closed little changed at 9,871. Bharti Infratel Ltd. and Bharat Petroleum Corp. Ltd. were the worst performers on the Nifty, each following over 3.5 percent.

Sixteen of the 19 sector gauges compiled by the BSE Ltd. gained, led by S&P BSE Metal and S&P Realty Indexes’ 2.5 percent jump. On the flipside, the S&P BSE Telecom Index was the worst performer with 1.14 percent drop.

Singapore government’s wealth fund Temasek will make threefold gains as it sells a third of its nearly 20 percent stake in Godrej Agrovet Ltd., India’s largest animal feed maker, in an initial public offering.

Godrej Agrovet will raise up to Rs 1,157 crore by selling 2.52 crore shares at Rs 450-460 in the IPO that opens on October 4. V-sciences Investment Pte., an investment arm of Temasek, had acquired its stake in 2012 at an average cost of Rs 154.6 a share.

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Reliance General Insurance Co. Ltd. will list by the end of this financial year, Anmol Ambani, executive director of its parent company Reliance Capital Ltd. said in his first public address after assuming office.

The market regulator won’t rush in to allow unified commodity and stock exchanges. It will first release a consultation paper before moving in that direction, said SK Mohanty, executive director of the Securities and Exchange Board of India.

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