Barring metal, PSU bank, and realty, all major sectoral indices ended in the red. NTPC, PowerGrid, and Wipro were the top Sensex laggards, falling over 2% each. HCL Tech, L&T, and Tech Mahindra also closed lower, while Tata Steel, SBI, IndusInd Bank, and JSW Steel gained. The market capitalisation of all listed companies on BSE declined by Rs 2.7 lakh crore to Rs 388.8 lakh crore.
JSW Steel, part of the JSW Group, is planning to borrow USD 750 million for capital expenditure as it targets major capacity expansion, aiming to almost double its steel output to 50 million tons by the end of the decade. The Mumbai-based company recently started work on a USD 7.8 billion complex in eastern India and is reportedly interested in a 20% stake in Whitehaven Coal s Blackwater coal mine.