Mumbai: The market ended on a weak note with the Nifty falling below 6100. The Nifty closed at 6091.45, down 61.30 points or 1 per cent. The Sensex closed down 186.33 points or 0.90 percent at 20536.64.
Banks dragged the indices with ICICI Bank, SBI and HDFC as major losers in the Sensex. Tata Steel and Bharti Airtel were other laggards. Tata Power, BHEL and Bajaj Auto were gainers in the Sensex.
The government cleared Rs 6,400 crore FDI (foreign direct investment) proposal of global healthcare company GlaxoSmithKline to acquire additional 24.33 per cent stake in its India arm.
The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of GlaxoSmithKline Pte Limited, Singapore for acquisition of 24.33 per cent shares in existing Indian subsidiary company of GSK Group. The said acquisition "would be done by way of a voluntary open offer under Sebi (SAST Regulations) in the pharmaceutical sector," an official statement said.
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