Sensex falls over 210 points; Nifty closes near 9900

Barsaba Taglieri
Agosto 10, 2017

Indian shares may open largely unchanged on Thursday despite weak earnings results from Tata Motors and Aurobindo Pharma.

Tata Motors shares fell over 8 per cent after the company's 42 percent rise in June-quarter profit, helped by a one-off gain related to changes to Jaguar Land Rover's pension plans, failed to please investors. On a standalone basis, the company reported loss Rs 467 crore against Rs. 25.75 crore profit a year ago.

Natco Pharma plunged 16 percent after posting a 47 percent decline in quarterly net profit.

The Sensex on Wednesday plunged by another 216 points to close at a three-week low below the 32,000-mark on growing sense of disquiet following Sebi crackdown against suspected shell companies and rising geopolitical concerns after the United States and North Korea exchanged threats. Investors also ran for cover after a flare-up in tension between the United States and North Korea over the latter's ballistic missile programme hit the sentiment.

The dollar held steady against the yen and U.S. Treasury bond prices fell slightly, while oil futures added to gains from the previous session after data showed U.S. crude inventories fell more than expected.

Overseas, Asian stocks ended lower and European shares were down in their early deals. The Dow slid 0.2 percent and the S&P 500 edged down marginally while the Nasdaq Composite shed 0.3 percent.

The Nifty Auto index fell as much as 2.2 percent, its biggest percentage loss in over two-and-a-half months.

On the other hand, Dr Reddy'S Laboratories (1.47%), Infosys (1.10%), Axis Bank (0.89%), Housing Development Finance Corporation (0.79%), Hero Motocorp (0.66%), and Sun Pharmaceutical Industries (0.57%) were the major gainers in the Sensex.

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